Top finance officials from the world's seven wealthiest democracies set aside stark differences on U.S. tariffs and agreed to counter global “economic imbalances,” a swipe at China's trade practices.

Japan, Germany, France and Italy all face a potential doubling of U.S. duties to 20% or more in early July. Britain negotiated a limited trade deal that leaves it saddled with 10% U.S. tariffs on most goods, and host Canada is still struggling with Trump's separate 25% duty on many exports.

US President Donald Trump will attend the annual G7 leaders' summit in Canada, the White House said Thursday. "President Trump will travel to the G7 leaders' summit in Canada from June 15 through the 17th. "We will be sending additional logistics information out after the briefing," spokeswoman Karoline Leavitt told reporters.

Federal prisons won't be used to house inmates displaced by the G7 summit in Alberta in June. The province says it doesn't plan to manage its prison populations the same way it did the last time world leaders met in Kananaskis,

Canadian Finance Minister Francois-Philippe Champagne holds a press conference with Ukraine Minister of Finance, Sergii Marchenko (not pictured), after the two met during the G7 finance ministers and central bank governors meeting in Banff, Alberta, Canada, May 20, 2025. REUTERS/Todd Korol