G7 trade talks targeting critical minerals are underway as a rift over U.S.-EU tariffs strains the group's unity. Leaders gathered in Kananaskis, Alberta, for the annual summit, with Prime Minister Mark Carney welcoming Ukrainian President Volodymyr Zelenskyy to a session.
Critical Minerals at the Forefront
The discussions center on securing supply chains for critical minerals essential for electric vehicles, renewable energy, and defense technologies. Canada, a key producer of lithium, cobalt, and nickel, aims to position itself as a reliable partner amid global competition.
U.S.-EU Tariff Disputes
Tensions between the United States and the European Union over steel and aluminum tariffs have complicated negotiations. The U.S. has imposed tariffs on European goods, prompting retaliatory measures. EU leaders urged a resolution to prevent further economic friction.
Other topics include climate change, digital economy standards, and support for Ukraine. The summit also saw announcements on Arctic security and Indigenous reconciliation.
Political Developments
Prime Minister Carney named former Supreme Court Justice Louise Arbour as Canada's next governor general. Additionally, up to 33,000 temporary foreign workers will be fast-tracked for permanent residency to address labor shortages.
Business and Economy
Disney reported earnings that beat estimates as its new CEO outlined growth strategies. Fortis posted a $501 million first-quarter profit, up from $499 million a year earlier. Apple agreed to a $250 million settlement over Siri privacy claims, with some iPhone owners eligible for up to $95.
Health and Environment
Health officials are monitoring suspected hantavirus cases on a cruise ship, while a viral menopause trend draws attention. In environmental news, an Alaska landslide triggered a tsunami the size of the CN Tower last year, raising concerns for British Columbia. Canada launched a new flood risk tool, though it is not yet searchable.
Sports and Entertainment
The Rolling Stones announced a new album, 'Foreign Tongues,' set for July 10 release. Canadian actress Caissie Levy received a Tony Award nomination. In sports, PSG and Bayern Munich face off for a spot in the Champions League final against Arsenal, while Atletico Ottawa upset Toronto FC 3-1 in the Canadian Championship.
As the G7 summit continues, leaders aim to bridge differences and strengthen cooperation on critical minerals and global challenges.
