By Canadian Press

G7 finance ministers to wrap up summit in Banff

May 22, 2025 | 2:01 AM

BANFF — Finance ministers from the G7 are wrapping up their summit in Banff, Alta., with discussions including the global trade system roiled by U.S. President Donald Trump’s tariffs.

Other topics on the agenda are artificial intelligence and the war in Ukraine.

Finance Minister François-Philippe Champagne and Bank of Canada governor Tiff Macklem were set to emerge later Thursday to take questions from reporters.

In an interview late Wednesday, Champagne was asked about the possibility of a joint communique being issued when the event wraps up.

“I’ve always said it is easier to predict the past than the future. We had a very good day of discussions, a very good engagement,” he said, adding he was “very optimistic.”

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Champagne had bilateral meetings with France and Italy and a late evening meeting with U.S. Treasury Secretary Scott Bessent.

“I am always reminded Canada is the largest customer of the United States. We buy the most from the U.S. We have a very deep trading relationship.”

The summit is happening as Trump appears to be seeking trade pacts with countries that he has imposed tariffs on, although the finance ministers haven’t said they expect to settle deals with the United States during the meeting.

The countries are scheduled to gather again in the Rockies for the G7 Leaders’ Summit in nearby Kananaskis, Alta., from June 15 to 17.

This report by The Canadian Press was first published May 22, 2025.

Matt Scace, The Canadian Press