G7 faces challenges but shows unexpected unity on Iran and Ukraine: Analyst

Aurel Braun, Professor of International Relations at the University of Toronto, tells CNA about the complex dynamics facing the Group of Seven summit. He highlights the emerging unity on addressing Iran's nuclear threat alongside ongoing challenges in maintaining support for Ukraine.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

CNA

12 hours ago

• CNA

CNA938 Rewind - Done deal between Nippon Steel, US Steel ends 18-month saga

CNA938 Rewind Nippon Steel has closed its US$14.1 billion acquisition of US Steel, bringing an end to a bruising 18-month takeover battle that was embroiled in American politics for months until finally gaining support from US President Donald Trump. Andrea Heng and Susan Ng take a closer look at the terms and implications for the steel industry, and impending tariffs, with Professor Lim Tai Wei, Department of Business Administration, Soka University and Japan expert.

Business Times

14 hours ago

• Business Times

Canada will ‘adjust' counter tariffs on US metals if no deal in 30 days

[OTTAWA] Canada will 'adjust' its 25 per cent counter tariffs on US steel and aluminum in response to a doubling of US levies if a bilateral trade deal is not reached within 30 days, Prime Minister Mark Carney said on Thursday. 'Canada will adjust its existing counter tariffs on US steel and aluminum products on the 21st of July, at the end of that 30-day period,' he said. Carney also announced a raft of measures to support the Canadian steel and aluminum sectors facing 50 per cent US tariffs, including procurement rules that favour domestic suppliers and anti-dumping measures. Canada is the largest supplier of foreign steel and aluminum to the United States, and Carney earlier this month had denounced the doubling of US tariffs on Canadian imports of steel and aluminum, calling them 'unjustified' and 'illegal.' At the same time, Canada and the United States launched 'intensive discussions' to rewrite Canada-US trade relations. G7 leaders at the Group of Seven summit in Canada on Monday pushed US President Donald Trump to back away from his punishing trade war. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up After Carney and Trump met on the sidelines of the summit, the Canadian government indicated the two sides could reach a trade deal within the next 30 days. The talks are ongoing. A good outcome in those negotiations, Carney said Thursday, would be to 'stabilise the trading relationship with the United States' and 'ready access to US markets for Canadian companies' while 'not having our hands tied in terms of our dealings with the rest of the world.' Canada exported 5.95 million tonnes of steel and 3.15 million tonnes of aluminum to the United States last year, according to US government data. AFP

CNA

15 hours ago

• CNA

Canada Warns Of More Duties On US Steel And Aluminum If No Deal Is Reached

OTTAWA: Canada could increase counter-tariffs on US-produced steel and aluminum if it fails to reach a broader trade agreement with President Donald Trump within 30 days, Prime Minister Mark Carney said on Thursday (Jun 19). Speaking at a press conference, Carney said Canada would adjust its existing countermeasures on Jul 21 depending on progress made in the ongoing trade talks with Washington. "Canada will adjust its existing counter-tariffs on US steel and aluminum products on July 21 to levels consistent with progress made in the broader trading agreement with the United States," Carney said. TARIFF DISPUTE ESCALATES Trump raised import duties on steel and aluminum to 50 per cent from 25 per cent earlier this month, a move that triggered backlash from Canadian industry leaders and demands for a strong response. Canada is the largest exporter of these metals to the United States. Carney said he had agreed with Trump to try and finalize a new economic and security agreement by Jul 21. Until then, Canada will refrain from immediately matching the US hike in order to allow for progress in the negotiations. In March, Canada had already imposed 25 per cent retaliatory tariffs on steel products worth C$12.6 billion and aluminum worth C$3 billion. PROCUREMENT AND DOMESTIC MEASURES As part of Thursday's announcement, Carney unveiled new procurement rules that will prioritize domestic producers. Canadian firms and international partners with reciprocal, tariff-free access will now be allowed to compete for federal contracts involving steel and aluminum. The Canadian government will also implement new tariff-rate quotas set at 100 per cent of 2024 levels for steel imports from non-free trade agreement countries. This is intended to stabilize the domestic market and prevent harmful trade diversion. "We are united in working on all forms of support for the industry... that starts with buying Canadian steel and aluminum for federal projects," Carney said. Canada exports more than 90 per cent of its total steel and aluminum to the US, and imports about one-fifth of US steel and half of its aluminum, according to the Royal Bank of Canada. This underscores the deep integration of metals trade between the two nations. Under Carney's leadership, Canada has launched major infrastructure initiatives—from defense to energy and housing—that are expected to require massive amounts of steel and aluminum.