At the annual meeting in the Alberta resort town of Banff, finance ministers and central bank governors over the next two days will try to find consensus on protectionism and cross-border commerce amid U.S. tariff threats. (The Logic)

Talking point: While Trump’s pause on so-called reciprocal tariffs has temporarily eased trade tensions, the topic is likely to remain a key focus as leaders from the seven nations meet this week. U.S. Treasury Secretary Scott Bessent has already warned that tariffs would be renewed if trading partners do not sign new deals with the U.S., and his office said in a brief communication ahead of the meetings that he would “focus on the need to address global economic imbalances and non-market practices in both G7 and non-G7 countries.” Other topics of discussion are likely to be financial stability, public spending, sustainable finance and the strength of the U.S. dollar and credit.