While the Israel-Iran conflict took centre stage during this year’s G7 summit, current tariffs and the prospect of even more punishing levies from the United States that are set to be applied in July were still top-of-mind for leaders.
Canada hosted the 51st G7 summit from June 15 to 17 in Kananaskis, Alberta, with leaders from the United States, France, Germany, Italy, Japan, the United Kingdom, and the European Union. Leaders from other countries were also invited, including from Australia, Ukraine, Mexico, India and others. Auto tariffs were on the minds of many, according to media reports.
Reuters reports Japanese Prime Minister Shigeru Ishiba headed to the G7 meeting in hopes of getting U.S. President Donald Trump to drop the 25 per cent tariff on Japanese vehicles, along with a 24 per cent across-the-board levy that is currently paused but looms heavy as a potential reciprocal tariff.
The Kyodo News said Japan has been “urging the United States to rethink its tariff measures through several rounds of ministerial negotiations, but tangible results have yet to be seen. In the run-up to his meeting with Trump, Ishiba has indicated that Japan will not rush to make a deal at the expense of the national interest.”
In Canada, Global News cited Dominic LeBlanc, Minister responsible for Canada-U.S. Trade, Intergovernmental Affairs and One Canadian Economy, as saying certain conversations with the U.S. are constructive, though they have not yet yielded the desired outcome — particularly around tariffs on steel and aluminum and the overall auto sector.
“I’m hopeful we’ll get there, but it’s not fast enough,” LeBlanc told Mercedes Stephenson in an interview on The West Block, according to Global News.
Yahoo Finance said Trump sees a deal with Canada as “achievable.”
“We have different concepts. I have a tariff concept. Mark has a different concept,” said Trump, standing alongside Canadian Prime Minister Mark Carney at the G7 summit in Alberta, according to Yahoo Finance. “We’re going to see if we can get to the bottom of it today.”
Some media reports also suggest the European Union is hoping to accept a 10 per cent tariff, though others note the EU has denied this claim. However, most reports view any actual deals between the U.S. and tariffed countries as unlikely during this year’s G7.
