G-7 nations seek ways to make growth help more people

"All the six others. said explicitly, and some very directly, to the representatives of the USA administration that it is absolutely necessary to continue with the same spirit of worldwide cooperation", said French Finance Minister Michel Sapin.

"Global recovery is gaining momentum, yet growth remains moderate and GDP is still below potential in many countries, with the balance of risks tilted to the downside", the leaders said in the communique.

Treasury Secretary Steven Mnuchin was in attendance and confirmed that cybersecurity would continue to be a main talking point for the world's seven most advanced economies.

This meeting helps lay the foundation for the G7 meeting of global leaders that will take place later this month in which President Trump will attend.

More news: The worst movie of 2017? King Arthur is a disastrous bomb

"These global cyber attacks highlight the real world consequences of technological vulnerabilities", a senior US Treasury Department officials told reporters on the return flight from the G7 gathering of financial chiefs in Bari, Italy.

Trade had been left off the official agenda, the Financial Times reported, to avoid the controversial issue of protectionism, which has led to diplomatic friction between the members and the administration of U.S. President Donald Trump. During his presidential campaign, Trump charged that past administrations had failed to take a tough stand on enforcing trade agreements and this failure had cost millions of good-paying factory jobs and resulted in an enormous USA trade deficit. The Treasury secretary said the administration's commitment to economic growth of 3 per cent would be good for the U.S. and for the global economy.

Despite Mnuchin's remarks, Japanese Finance Minister Taro Aso expressed hope that the G-7 leaders, including Trump, will narrow the group's gap on trade when they gather in Taormina, Sicily, on May 26 to 27.

The talks, the first Group of Seven outing for US Treasury Secretary Steven Mnuchin, followed the overnight announcement of a surprise trade accord between Washington and China.

More news: D-backs look for another win vs. slumping Pirates

Kristian Rouz - A Group of Seven (G7) meeting revealed the deepening divide between the attitudes of the increasingly protectionist U.S. and the rest of the world's largest economies, which are attempting to uphold the free trade approach to the global exchange in goods and services.

Other issues discussed included debt relief for Greece. He also said the administration had held "preliminary but productive discussions" with the Canadian and Mexican governments on Nafta.

Whilst the final communique included some wording referring to fighting inequality and financial inclusiveness of the global economy as a desirable target, Mnuchin's view of a better model of worldwide trade as rather "fair" instead of "free" prevented a G7 consensus on the matter. It was possible to negotiate a deal that was a "win-win for all three countries".

There were also discussions on cybercrime, financial regulation and worldwide taxation.

More news: U.S. revises up global petroleum supply forecasts

Adding, "We want to have balanced trade".

Related:

  • Yankees place Aroldis Chapman on 10-day DL

    Yankees place Aroldis Chapman on 10-day DL

    Three more hits and another earned run set the tone, and once again he could not get out of the inning, only getting two outs. But Chapman stayed in the game, and Girardi said afterward that his closer was not experiencing any pain or discomfort.
    Miner BHP Billiton rebrands as BHP

    Miner BHP Billiton rebrands as BHP

    "It's a form of reset for us", said Geoff Healy, the Melbourne-based company's chief external affairs officer. The campaign was developed at various locations, including BHP birthplace, Broken Hill in New South Wales.
    Would have been a shame if Sunrisers didn't qualify, says Warner

    Would have been a shame if Sunrisers didn't qualify, says Warner

    Gujarat Lions have made two changes by bringing in Praveen Kumar and Munaf Patel in place of Basil Thampi and Dhawal Kulkarni . Shikhar Dhawan started the chase in a hurry, smashing three consecutive fours off Pradeep Sangwan in the second over.
  • Opera's browser now features quick access to Messenger, WhatsApp and Telegram

    Opera's browser now features quick access to Messenger, WhatsApp and Telegram

    Opera is way behind Google Chrome and Mozilla Firefox in terms of userbase, but often brings nifty features to its browser . The Sidebar can be pinned and will work side by side with whatever website you are browsing.
    Android O is supposed to make Android updates arrive faster

    Android O is supposed to make Android updates arrive faster

    Silicon manufacturers pass the modified new release to device makers-the companies that design and manufacture Android devices. Essentially, a new " Vendor interface " will contain all of the low-level software for a device - like the chipset drivers.
    Security in Afghanistan Likely to 'Deteriorate'

    Security in Afghanistan Likely to 'Deteriorate'

    The Norwegian visited Berlin as part of a preparation for the North Atlantic Treaty Organisation summit in Brussels on May 25. North Atlantic Treaty Organisation now has about 13,000 troops in Afghanistan, more than half of them American.
  • UK Labour leader accuses Theresa May of 'pandering' to Trump

    For the Conservatives, Defence Secretary Sir Michael Fallon said Mr Corbyn had shown he would put Britain's security at risk. If elected prime minister, I will do everything necessary to protect the safety and security of our people and our country.
    Zidane hails ´fundamental´ Navas as Madrid see off Sevilla

    Zidane hails ´fundamental´ Navas as Madrid see off Sevilla

    It's something that a forward of midfielder would do, so for Nacho to do is makes me happy for him". We still have the most hard yet to do - two games to play.
    ICE announces major anti-gang operation

    ICE announces major anti-gang operation

    Additionally, of the 1,478 gang members arrested, 10 of them had crossed the U.S. -Mexico Brder as unaccompanied minors. Homeland Security officials based in Houston say 207 people were arrested in Houston and the surrounding 50 counties.
  • MP board results: Girls outshine boys in class 12th, 10th exams

    MP board results: Girls outshine boys in class 12th, 10th exams

    How to check Madhya Pradesh 12th Results? Stduents should visit the official website or the direct link provided below. The evaluation of the answer sheets was done in two phases and evaluators were asked to check them carefully.

    IPL 2017: How Kings XI Punjab ruled over Mumbai Indians at Wankhede

    In those first six innings, he was particularly strong against the short ball, scoring 50 off 16 balls without being dismissed. Earlier, Rohit Sharma, the MI skipper, won the toss and made a decision to bowl first very much adhering to the trend.
    Officer shot in Kirkersville Ohio

    Officer shot in Kirkersville Ohio

    John Kasich tweeted that he was "shocked & pained by the horrific shooting in Kirkersville, ask for prayers for those injured. The gunman, who was not immediately identified, shot two other people before turning the gun on himself, WBNS-TV reported.

Comments

Latest news

Harry Styles never felt need to label his sexuality
Styles released his debut self-titled album on Friday, and naturally, he is now making his rounds to promote it. The performance came the day after the star released his self-titled debut solo album, Harry Styles.

Fearless Kim had no doubts at Players
McIlroy is set to undergo an MRI scan today to determine the extent of an injury which hampered his efforts at Sawgrass. He's also one of only a handful of PGA Tour players in the last quarter century with multiple wins before turning 22.

Carvalho questions Conte's impact on Chelsea revival
Commitment and hard work are buzzwords for the 47-year-old Conte but he urged his players to enjoy their moment. Stamford Bridge chiefs are now confident Conte will snub interest from his homeland to agree an extension.

Bournemouth 2 Burnley 1: King downs Clarets in late drama
Burnley twice conceded when players got the wrong side of their men, and Dyche was disappointed with the goals they shipped on the coast.

Bayern beats Leipzig 5-4 in Bundesliga, Ingolstadt relegated
In a game with little riding on it, Marcel Sabitzer headed Leipzig ahead, before Robert Lewandowski levelled. Both sides have achiched their goal for this Bundesliga campaign.

North Korea poses 'existential' threat, US intel chief warns
On Afghanistan, Coats said the situation "will very likely continue to deteriorate, even if global support is sustained". Senators sought an assessment of when North Korea would be able to strike the US with a nuclear weapon.

Woman charged with chasing US Rep. David Kustoff
The 35-year-old is accused of then getting out of her vehicle , walking up to the congressman's and pounding on the windows. According to WMC , the woman posted details of the encounter on Facebook, which is how she was found.

Official Jio Twitter account announces JioFiber preview cities
Though they haven't mentioned the names, the team stated that they are trying to expand their services in other cities gradually. Once 100 GB are consumed, users would be able to access broadband Internet at 1 Mbps speed, for unlimited usage.

Harry Styles' Debut Solo Album Has Arrived
He scales "We're not just we're gonna stand in the place of you and me" with a disarming sincerity. Harry Styles performs on NBC's " Today " at Rockefeller Plaza on May 9, 2017 in New York City.

USA clothing retail sales slip in April
Sales at department stores rose 0.2 percent, rather than falling 0.2 percent. All other sectors saw increases over April a year ago .

Tesla starts selling solar roof; says savings to cover costs
Musk told reporters the business would "start off initially very slowly but then gather speed and grow exponentially". The price announced by Tesla is lower than the price of $24.50 per square foot that Consumer Reports had predicted.

Illegal Alien Deported 15 Times Hits 6-Year-Old Returning from Disneyland
Court records reveal that Banda-Acosta, who was being held on $100,000 bail, has a history of driving under the influence. He was arrested about a mile away, where Border Patrol agents found him in the damaged pickup with a passenger.

Lewis Hamilton says Mercedes are rising to challenge posed by Ferrari
The latter leads Hamilton in the drivers' championship by 13 points with Bottas 10 points further back. Raikkonen won the season-opener with Renault and Vettel won twice with Red Bull.

Top 3 Smartphones to buy in 2017
The latest report from Korea suggests that a brand new smartphone is incoming and it is going to feature the flip design . The dual-camera technology is far from ideal in phones right now, so keep in mind to take this info with a pinch of salt.

25 great white sharks close California beaches, force swimmers ashore
The sharks were spotted at Dana Point, near where a woman was bitten by a shark last month , the Orange County Register reported . Meanwhile in Long Beach, about 10 juvenile great whites were also spotted swimming along the shore.

Other news