Canada and U.S. Advance Economic Talks at G7 Finance Summit

Canada’s Finance Minister François-Philippe Champagne met with U.S. Treasury Secretary Scott Bessent on Wednesday in Banff, Alberta, during the G7 finance ministers summit. The bilateral meeting, held as part of Canada’s role as this year’s G7 chair, was described by both sides as productive and positive.

Champagne emphasized the strength of Canada-U.S. relations and said the two leaders had a meaningful conversation covering multiple economic issues. While he did not disclose specific topics, Champagne noted the strong rapport and alignment between the two nations. Earlier in the day, he stated his intention to highlight the importance of Canada’s deep trade ties with the U.S. in talks with Bessent.

Following the meeting, Bessent echoed the positive sentiment, telling reporters he had “a very productive day.” Champagne, speaking about the broader G7 discussions, noted a growing sense of unity among finance leaders and described the talks as constructive.

Key topics on the G7 agenda included non-market practices by China, Russia’s invasion of Ukraine, and plans for Ukraine’s post-war reconstruction. Champagne underscored the need for the G7 to remain united on global challenges, stating, “We are stronger together.”

In addition to his meeting with Bessent, Champagne held talks with EU leaders, which he described as “very constructive.” As G7 chair, he continues to advocate for coordinated global responses to economic and geopolitical issues.

The G7 finance summit in Banff has emerged as a pivotal forum for shaping international economic cooperation, with Canada positioning itself as a bridge between major global powers. With progress reported in key bilateral and multilateral meetings, the summit marks a significant moment in North American and global economic diplomacy.