Group of Seven

China has released its 15th five-year plan for a new-type energy system, aiming for 30% clean energy in power generation by 2030, with wind and solar as the mainstay. The Group of Seven (G7) has urged diversification of rare earth supply chains to reduce reliance on China, prompting responses about strengthening domestic critical mineral strategies. China also emphasized climate governance and green development in its approved five-year plans.

European Central Bank President Christine Lagarde urged global leaders to address the undervaluation of the Chinese currency as part of global economic imbalances. China denies manipulating its currency for trade advantage, but its trade surpluses and macroeconomic mismatches are concerns for G7 nations.

European Central Bank President Christine Lagarde urged global leaders to discuss the undervaluation of the Chinese currency as a global economic imbalance. China denies manipulating its currency, but its trade surpluses are among macroeconomic issues concerning G7 leaders alongside US deficits and European challenges.

Europe's defense industry aims to gradually reduce reliance on China for military supply chains during rearmament, rather than complete decoupling. G7 leaders signed a declaration to significantly reduce dependency on a single external supplier for critical minerals, without explicitly naming China.

Italy’s Prime Minister Giorgia Meloni, who previously avoided responding to US Donald Trump’s remarks, has recently escalated tensions by addressing his criticisms. Unlike other European leaders, Meloni was noted as one of the few Trump liked due to her conservative stance, but she has now shifted from a populist approach to a more confrontational one.

President Trump is criticizing Italian Prime Minister Giorgia Meloni again, accusing her of begging for a photo at the G7 summit. The two, who previously had a friendly relationship, are clashing over the Iran war.

Macron hosts Trump at Versailles for a private event celebrating America's 250th birthday to maintain diplomatic ties amid disagreements on Iran, Ukraine, and tariffs. The event aims to use Versailles' historical grandeur as a diplomatic tool to keep Trump engaged during the Group of Seven summit.

G7 leaders in the French Alps discussed the future of artificial intelligence and U.S. industry dominance, with AI company executives present. Discussions also included a tentative Iran deal and secure shipping in the Strait of Hormuz. Canadian Prime Minister Mark Carney gifted U.S. President Donald Trump a birthday present.

German Chancellor Friedrich Merz emphasized the importance of maintaining the US-Iran peace deal, stating it offers regional stability and economic security. G7 nations are united in supporting the accord, and Germany has dispatched mine-clearing vessels to the Strait of Hormuz to facilitate shipping restoration.

World leaders are meeting in Evian-les-Bains, France, for a summit of the Group of Seven major democracies. The event features a photo gallery curated by AP photo editors.

The Bank of Japan's fifth rate hike in two years, raising rates by 25 basis points to 1%, was met with a muted market reaction. The Group of Seven's most predictable central bank saw the Nikkei 225 respond to the policy change.

G7 leaders are addressing Russia’s war in Ukraine and a tentative U.S.-Iran deal during the summit in Evian-les-Bains. Discussions include economic impacts of the war, Middle East stability, and new U.K. sanctions targeting Russia’s shadow fleet. Ukrainian President Zelenskyy is attending the summit and meeting with Macron and other leaders.

G7 leaders began summit talks focused on Ukraine and the Middle East. Zelenskyy joined the discussions in France. The agenda includes addressing these key international issues.

The OECD Secretary General Mathias Cormann discusses the impact of the Iran war on the global economy, stating it's putting downward pressure on growth and upward pressure on inflation. He spoke on the sidelines of a Group of Seven meeting in Paris. The conflict in the Middle East is affecting the economy.