G7 Leaders Address Economic Challenges Amid U.S.-Iran Conflict and Global Imbalances
G7 leaders met in France amid rising inflation and a 30% jump in oil prices linked to the recent U.S.-Iran conflict, which has disrupted energy and food supplies globally. While an interim deal between the U.S. and Iran raised market optimism, economic pressures persist, prompting central banks like the ECB and Bank of Japan to raise interest rates. Leaders, including Starmer, Meloni, and Macron, expressed concern over economic impacts but avoided direct criticism of U.S. President Trump to maintain cooperation on broader issues. France also highlighted global economic imbalances, emphasizing risks from trade tensions and financial shocks.