G7 Summit: U.S. Drives Balanced Global Economy Agenda
At the G7 finance leaders meeting in Canada, the U.S. Treasury will not announce trade deals unless they align with U.S. interests. Treasury Secretary Scott Bessent aims to press G7 allies to counteract spillover from non-market economies like China's. U.S. fiscal concerns, including Moody's downgrade, remain untroubling to the Treasury.
The United States Treasury has announced that it does not expect to release any trade deal announcements during the Group of Seven (G7) finance leaders meeting in Canada this week.
The focus remains on aligning the group's collective interests with those of the U.S., according to an informed source.
Treasury Secretary Scott Bessent is poised to engage in discussions with Japanese officials and plans follow-up talks in Washington, seeking allies' support to mitigate the impacts of China's non-market economic practices.
Bessent plans to advocate for a global economic rebalance and address the disparity caused by China's state-led economic model.
As the Treasury denies significant concerns over Moody's credit rating downgrade, the meetings aim to emphasize steadfast priorities over joint communique formalities.(With inputs from agencies.)
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