G7 finance ministers, central bank governors to convene in Washington

Finance ministers and central bank governors from the Group of Seven (G7) nations will convene in Washington for an important meeting to address a range of global economic issues.

The gathering, set to take place in the US capital, is expected to focus on pressing challenges such as inflation, monetary policy adjustments, and the ongoing global economic recovery, Caliber.Az reports per Russian media.

However, some analysts suggest that the impact of the summit may be limited, particularly in the absence of US President Donald Trump’s direct involvement. While the meeting offers a platform for major industrial economies to align their economic strategies, speculation remains about whether it will produce significant outcomes without broader geopolitical discussions or key political figures driving the agenda.

The meeting will likely delve into concerns surrounding the US administration's trade policies. President Trump recently announced plans to impose import duties on products from 185 countries and territories. A universal 10 per cent tariff came into effect on April 5, with individual tariffs following on April 9. Additionally, a 25 per cent duty was introduced on all imported cars starting April 3. On April 9, however, Trump announced a 90-day suspension of these additional duties, with the White House explaining that this pause was linked to ongoing trade negotiations. During this period, a 10 per cent universal tariff will remain in place.

Another key topic on the agenda is the ongoing situation in Ukraine, which continues to dominate international discussions. The G7 finance ministers and central bank governors will likely discuss the economic implications of the conflict and the global response, particularly as it affects supply chains, energy markets, and international security.

By Vafa Guliyeva