Tiff Macklem Discusses Economic Uncertainty at G7 Summit

In an interview, Bank of Canada Governor Tiff Macklem shared concerns over trade uncertainties hindering investment during the G7 summit in Alberta.

In a series of significant meetings, G7 finance ministers and central bankers convened in Banff, Alberta, this week, coinciding with President Trump’s upcoming attendance at a Group of 7 leaders summit in Kananaskis, Canada. The economic policymakers left the three-day gathering with a reaffirmation of their support for Ukraine and a stern message to Russia, warning of potential sanctions if peace talks fail to progress.

Notably absent was a direct condemnation of the economic turmoil spurred by President Trump’s aggressive tariffs; however, the meeting's communique emphasized the prevailing uncertainty in global trade and economic policy. This ongoing uncertainty weighs heavily on global growth prospects.

Following the G7 meetings, I had the opportunity to interview Tiff Macklem, the Governor of the Bank of Canada. Our discussion centered on the impact of trade uncertainties on Canadian investment and broader economic stability. Macklem pointed out that the lack of clarity surrounding tariffs is freezing investment activity, raising significant concerns for the nation’s economic outlook. As the conversations at the G7 highlighted, countries around the world remain on edge regarding the future of trade relations, especially in light of ongoing tensions and geopolitical instability.