Finance ministers from the G7 industrialized nations are meeting in Paris on Monday for a two-day session aimed at forming a unified stance amid global economic uncertainty and the ongoing war in the Middle East. France, currently holding the G7 presidency, faces the challenge of maintaining open dialogue as trade tensions rise following U.S. President Donald Trump’s tariff measures. Reducing dependence on China’s rare mineral supplies, crucial to the fast-growing artificial intelligence sector, is among the meeting’s top priorities.

French Finance Minister Roland Lescure said last week that the global economic trajectory of the past decade is unsustainable, citing the U.S. budget deficit, Europe’s innovation gap, and China’s weak consumer demand and industrial overcapacity. He emphasized that while multilateral cooperation remains possible, discussions are difficult, especially with the United States. Trump’s trade-focused diplomacy has raised concerns among G7 leaders as the Middle East conflict heightens risks of stagnation and inflation.

German Finance Minister Lars Klingbeil described the G7 as an appropriate platform to discuss ending the Iran war, stressing the need to stabilize the region and secure shipping through the Strait of Hormuz. A final press conference is scheduled for Tuesday afternoon.