Some success for Carney, not a win for the G7
If Mark Carney's task at the G7 was handling Donald Trump while he was in the Rocky Mountains, the Prime Minister can tick it off as job done. There was no big explosion.
There were signs the rookie Prime Minister was an able host and Trump handler. The U.S. President called a trade deal with Canada achievable, even if he still wants tariffs. He agreed to several joint G7 statements, including one on the Iran-Israel conflict, although he treated the G7 position as irrelevant after he left a day early to deal with that crisis.
For Mr. Carney, judged against the limited standards of hosting a summit with Mr. Trump, it was a success. For the G7 as a group, it wasn't.
This was a G6-plus-one, and they couldn't bridge the big things. They are miles apart on trade. They couldn't agree on a common position on Ukraine.
In personal diplomacy with Mr. Trump, Mr. Carney had a decent outing.
He sucked in his cheeks stoically and silently during a joint photo op Monday when the U.S. President rambled about how Russia's Vladimir Putin should be allowed back into the group to make it the G8 again. He flattered Mr. Trump in his opening statement by saying the G7 would be nothing without U.S. leadership, and Mr. Trump's personal leadership. Mr. Trump called the Prime Minister 'Mark,' and said nice things about him. The personal PM-to-POTUS relationship is still good. Check.
That beats the last G7 in Canada in 2018, when Mr. Trump took exception to then-prime minister Justin Trudeau's relatively mild comment about trade, disavowing the joint summit statements. The rift was never mended.
Carney answers questions as leaders' summit wraps up; Canada, India agree to restore regular diplomatic services
This time, Mr. Trump expressed a touch of optimism about some kind of Canada-U.S. trade deal. The two leaders agreed to accelerate talks for some kind of interim deal – though Mr. Trump said he still wants tariffs. Still talking on trade, no implosion. Good enough for now.
Of course, Mr. Trump flew off a day early and told reporters on Air Force One that tariffs are quicker and easier and he still thinks Canada should become the 51st state. In retrospect, that felt almost inevitable. Mr. Trump started a post-departure squabble with France's President Emmanuel Macron over the Iran-Israel conflict via a social media post, too.
But the G7, the group, didn't succeed.
Everyone knew going in that for all the others, the goal was to avoid a clash with Mr. Trump. They wanted to show a little common action. Talks over a final communiqué had been scrapped for narrow statements.
There was no joint statement of support for Ukraine and pressure on Russia. A Canadian government source said the U.S. wouldn't agree to one – but Mr. Carney brushed it off, noting he'd made his own statement on Ukraine as G7 chair and had run all the wording past G7 leaders at dinner, including Mr. Trump.
At any rate, Ukrainian President Volodymyr Zelensky had travelled across the world on a night when Russia launched a deadly attack on Kyiv, but Mr. Trump wasn't there when he arrived. Canada followed European countries in announcing new sanctions and substantial military aid, but the future of crucial U.S. support for Ukraine was left as a question hanging in the air.
Coyne: The G7 is dead – time to move on to the G6
It sometimes seemed like some G7 leaders were stubbornly trying to return to a world before the stubborn Mr. Trump. Mr. Macron made an economically literate argument for Western nations to solve trade-imbalance issues together, without tariffs. But Mr. Trump wants tariffs. On his way back to Washington, he told reporters that if there aren't bilateral deals, he'll just tell each country how much they have to pay.
As G7 host, one of Mr. Carney's tasks was to moderate the group and drive a common agenda. They agreed on some things and issued statements, for example, on developing critical minerals.
There's still a rift on trade. No joint position on Ukraine. They issued a common statement on Iran but by the time Mr. Trump was in the air, he was off on his own.
Mr. Macron painted the summit as a success, noting the leaders issued six joint statements on issues ranging from critical minerals to transnational repression.
'You can't ask the Canadian chair to settle all the issues of the world today, either,' Mr. Macron said. 'That would be unfair. But he held the group together.'
Sort of.
Mr. Carney told reporters it was an opportunity for frank discussions and building relationships, which will carry through, for example, till next week's NATO summit. And for as long as Mr. Trump was there, there was no blow-up.
For Mr. Carney, that was important. But for the G7, it was a summit that couldn't muster common purpose.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Globe and Mail
36 minutes ago
- Globe and Mail
Steady Comps Momentum: Will TJX Sustain its Winning Run?
The TJX Companies, Inc. TJX delivered comparable store sales growth of 3% in the first quarter of fiscal 2026, with all four major divisions contributing to the gain. The growth was entirely driven by increased customer transactions. This strength reinforces TJX's positioning as a reliable traffic magnet in off-price retail, especially as economic uncertainty pushes consumers toward value-driven formats. HomeGoods led the way with comparable sales up 4%, with strength at both the HomeGoods and the HomeSense banners. Marmaxx, the largest division, posted 2% comparable sales growth, with stronger momentum noted in March and April after a weaker February that was impacted by adverse weather. TJX Canada and TJX International (which includes Europe and Australia) each reported 5% comparable sales gains, helping to offset foreign exchange pressures. Management attributed the results to well-curated assortments and broad customer appeal, supported by close-to-need buying and sourcing flexibility. These factors have contributed to ongoing market share gains, particularly as more consumers seek value-driven retail options. TJX is off to a strong start in the second quarter. It is guiding for 2-3% comparable sales growth for the quarter. As tariffs and macro pressures build, the focus shifts to whether this consistent traffic-driven performance can hold up, especially as promotional intensity rises across retail. Still, TJX's ability to post positive comparable sales across categories and geographies highlights the enduring strength of its off-price model. Tracking Comp Sales: TJX's Peers, Costco and Burlington, Side by Side Costco Wholesale COST reported total company comparable sales growth of 5.7%, or 8% when adjusted for gas and FX, in the third quarter of fiscal 2025. U.S. comparable sales rose 6.6% (7.9% adjusted), driven primarily by 5.5% traffic growth. Costco highlighted strong member engagement and continued focus on delivering value. Sales were supported by price investments, growing Kirkland Signature penetration and sourcing flexibility in response to tariffs, helping Costco maintain its competitive positioning. Burlington Stores BURL reported flat comparable sales in the first quarter of fiscal 2025. Comparable sales declined in February but improved in March and April. Burlington maintained full-year comp guidance of flat to up 2%. Management cited tax refund delays, weather impacts and external uncertainty. Burlington continues to focus on merchandising flexibility and sourcing shifts to navigate tariffs and stabilize sales performance through the year. TJX's Price Performance, Valuation and Estimates Shares of The TJX Companies have lost 1.7% in the past month compared with the industry 's decline of 1.8%. From a valuation standpoint, TJX trades at a forward price-to-earnings ratio of 26.6X, down from the industry's average of 32.13X. The Zacks Consensus Estimate for The TJX Companies' current financial-year sales and earnings per share implies year-over-year growth of 4.4% and 4.7%, respectively. TJX stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Names "Stock Most Likely to Double" Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest. This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%. Free: See Our Top Stock And 4 Runners Up Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The TJX Companies, Inc. (TJX): Free Stock Analysis Report Burlington Stores, Inc. (BURL): Free Stock Analysis Report


CTV News
37 minutes ago
- CTV News
Canada's next national census set for May 2026
Statistics Canada's offices at Tunney's Pasture in Ottawa on March 8, 2019. THE CANADIAN PRESS/Justin Tang OTTAWA — The next Canadian census will be held in May 2026. The federal cabinet has issued an order fixing the date for the census and the questions it will ask. The last census was held in 2021 and was the first to be held during a pandemic. It collected data on the population, including age, gender, marital status, family structure and types of dwelling. It also gathered statistics on military experience, income, immigration, ethnocultural and religious background, and education, among other factors. Statistics Canada says the results are used to plan government services involving employment, schools, public transportation and hospital services. This report by The Canadian Press was first published June 23, 2025.


Winnipeg Free Press
42 minutes ago
- Winnipeg Free Press
Trump wants oil producers to pump more crude amid jitters that Iran may close critical shipping lane
WASHINGTON (AP) — President Donald Trump on Monday called for the U.S. and other oil-producing economies to pump more oil as crude prices remain volatile following U.S. strikes on Iranian nuclear facilities. Trump urged stepped-up production as the White House sharpened its warnings to Iran against closing the Strait of Hormuz, a vital oil and gas shipping lane, in retaliation for the U.S. strikes on Iran's nuclear program. 'To the Department of Energy: DRILL, BABY, DRILL!!! And I mean NOW!!!' Trump posted on social media. He added, 'EVERYONE, KEEP OIL PRICES DOWN. I'M WATCHING! YOU'RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON'T DO IT!' The push by Trump comes at an uncertain moment as U.S. embassies and military installations in the Middle East are on high alert for potential retaliation. Global markets are trying to ascertain what lays ahead after the U.S. struck key Iranian nuclear facilities with a barrage of 30,000-pound bunker busting bombs and Tomahawk missiles. Iran's parliament has approved cutting off the Strait of Hormuz, a narrow shipping lane in the Persian Gulf that about 20% of global oil and gas passes through. It's now up to Iran's national security council to decide whether to move forward with the idea, which could lead to a spike in the cost of goods and services worldwide. The price of oil jumped 4% shortly after trading began on Sunday night, but it quickly pared back as the focus shifted from what the U.S. military did to how Iran would react. Oil futures were flip-flopping in Monday morning trading between gains and losses. They still remain higher than they were before the fighting began a little more than a week ago. White House press secretary Karoline Leavitt warned Tehran anew against closing the strait, saying, 'the Iranian regime would be foolish to make that decision.' The State Department has doubled the number of emergency evacuation flights it is providing for American citizens wishing to leave Israel, ordered the departure of nonessential staff from the U.S. Embassy in Lebanon. It also is stepping up travel warnings around the Middle East because of concerns Iran will retaliate against U.S. interests in the region. In an alert sent to all Americans worldwide and posted to its website on Sunday, the State Department warned all U.S. citizens abroad to exercise caution. The U.S. Embassy in Qatar issued an alert on its website Monday urging American citizens in the energy-rich nation to 'shelter in place until further notice,' although Qatar later said the situation was 'stable.' The embassy did not elaborate and did not respond to multiple requests for comment from The Associated Press. Many energy industry analysts are skeptical that Iran would go forward with a full closure of the strait, something that it has threatened to do in the past. Iran would face the possibility of retaliation against its own shipments and the possibility that the move would upset China, the biggest purchaser of Iranian crude. The U.S. and allies pressed Russia in the leadup to Moscow's 2022 invasion of Ukraine with threats to its oil industry, and then followed through as many Western oil companies pulled out of the country and the U.S. and Europe imposed sanctions on Russian industry. But Iran is far less integrated into the global economy than Russia, which was reliant on European markets for its oil and gas exports and still went forward with the invasion despite U.S. warnings. 'There's been a lot of suggestion as well that this isn't something that is incredibly likely, and that's generally attributed to economic interdependence, which I don't want to suggest doesn't matter. It absolutely does,' said Colby Connelly, a senior fellow at the Middle East Institute. Connelly added, 'if the 2020s have taught us anything so far, it's that economic ties don't always prevent conflict.' In another development Monday, Leavitt appeared to play down Trump calling into question the future of Iran's ruling theocracy, seemingly contradicting his administration's earlier calls on Tehran to resume negotiations and avoid an escalation in fighting. 'It's not politically correct to use the term, 'Regime Change,' but if the current Iranian Regime is unable to MAKE IRAN GREAT AGAIN, why wouldn't there be a Regime change???' Trump posted on social media. 'MIGA!!!' Leavitt said Trump's 'posture and our military posture has not changed.' 'The president was just simply raising a question that I think many people around the world are asking,' Leavitt said. ___ AP writers Stan Choe in New York, Jon Gambrell in Dubai, United Arab Emirates, and Chris Megerian contributed reporting.