16-year-old Arnav Maheshwari unpacks the global economic and political impact of this year’s G7 gathering
The world’s most influential economic powers recently gathered in the Canadian Rockies for the annual G7 summit. Held in Kananaskis, Alberta, the event brought together leaders from seven of the world’s leading economies, known as the G7: Canada, France, Germany, Italy, Japan, the UK and the US.
They were joined by guests from India, Brazil, South Korea, Ukraine and the African Union – reflecting the G7’s recent outreach to rising economies and regional powers.
Against the backdrop of Donald Trump’s renewed trade confrontations, escalating conflicts in Ukraine and the Middle East, and a global scramble to regulate artificial intelligence (AI), the G7 summit set out to reassert the pivotal role of advanced economies in shaping global order.
Over three days (15–17 June), leaders struck deals on critical minerals, tax reform, pledged AI cooperation, and attempted to project unity despite sharp divisions in trade and security.
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Day 1: Rebuilding trust
The first day of the summit opened up with a call for stability. Leaders reaffirmed their support for a 15% global minimum corporate tax, years after the initial bid by the OECD (the Organisation for Economic Co-operation and Development) was delayed due to political gridlock. The revised deal included a ‘side-by-side’ model to allow American-based companies to opt out of certain parts as a means of diplomatic compromise.
Beyond tax, leaders opened early discussions on trade resilience and economic security. Canadian prime minister Mark Carney framed the summit’s theme as rebuilding trust, especially in institutions and supply chains still recovering from pandemic-era shocks.
While no formal trade agreements were announced on the first day, there were quiet signals that talks between the US and Canada were underway, with a strong focus on reducing tariffs and modernising previous agreements.
Guest nations India, South Korea and the African Union engaged in closed-door meetings on development, finance and climate change – topics that would return in a more concrete form later in the summit.
Day one didn’t deliver major breakthroughs, but it shaped the tone and made it clear that unity would be harder to maintain than in past summits.
Day 2: Work in progress
The second day of the summit brought the most movement. Leaders shifted from broad statements to concrete policy discussions and bills, making real progress across trade, minerals and technology. In the background, however, political tensions were growing.
One of the most closely followed announcements came from the US and the UK, who agreed to lower tariffs on cars and aerospace parts. The deal was limited, but seen as a step toward closer trade ties. European leaders, particularly Emmanuel Macron (France) and Friedrich Merz (Germany), pushed for a more coordinated G7 trade policy; they urged restraint against solo deals as they may sideline the collective influence of the bloc.
Day two also saw the launch of the Critical Minerals Action Plan,aimed at securing key resources for electric vehicles, semiconductors and clean energy. The plan emphasised moving away from China and investing in countries with stronger labour and environmental protections, such as Brazil and Vietnam.
Technology was another major focus. Leaders signeda joint statement on ‘AI for Prosperity’, outlining shared principles for transparency, ethics and environmental safeguards in artificial intelligence. A companion document on quantum technologyemphasised responsible research and development. Both statements reflected growing concern about the speed of innovation and the lack of clear international regulation.
Continuing tensionsaround Iran and the Middle East shaped much of the day’s foreign policy conversation, with G7 foreign ministers issuing a joint statementcalling for de-escalation. The statement, coordinated largely by Canada and the European Union, was released mid-afternoon. Hours later, President Trump leftthe summit earlier than scheduled, flying back to Washington for national security briefings on the Middle East.
The second day delivered clear progress on paper, but beneath the agreements it exposed the limits of how far the G7 could move together on the biggest challenges.
Day 3: Last day, loose ends
The final day of the summit brought the clearest sign of division. Canada pledged $3.1bn ($4.3bn CAD) in new support for Ukraine, covering military assistance, humanitarian aid and reconstruction. The commitment stood in contrast to the US, which offered no additional military support.
Ukraine’s president Volodymyr Zelenskyy, who had travelled to Alberta for the summit, left without a meeting with President Trump (who had already left) or the US delegation.
Guest countries – including India, Brazil, South Korea and the African Union – took part in final round-table discussions on global governance and development financing. While their presence reflected the G7’s widening focus, no formal initiatives were announced.
In the face of global uncertainty, France and Germany have revamped their bilateral partnership under ‘Merzcron’, while Japan and Italy remain sidelined, with less visible influence.
As the summit closed, a string of joint statements were released but there was no final communiqué, unlike past G7 conferences. Officials cited unresolved disagreements on trade, Ukraine and climate policy. Without alignment on the biggest questions, the summit ended with more coordination on paper than in fact.
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