The annual G7 world leaders summit is set to kick off in Canada on Monday, with trade all but certain to be a hot topic .
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World leaders will still talk trade at the G7. They ‘can’t afford not to’
American consumers appear to have settled a little after the extremely high tariffs announced in April.
David Paul Morris/Bloomberg via Getty Images
Consumer sentiment surges in first improvement since December
US inflation has been fairly tame to start the year; however, economists expected that price hikes would pick up speed for producers in May, in part because of rising costs from tariffs.
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US wholesale inflation heated up in May
FELIXSTOWE, ENGLAND - APRIL 07: In this aerial view Containers sit on the tarmac at Felixstowe Port on April 07, 2025 in Felixstowe, England. In an op-ed over the weekend, British PM Keir Starmer wrote that his government would use industrial policy to mitigate the impact of the Trump Administration's tariffs, which include a baseline 10% levy on most all goods imported to the US and 25% on automobiles. (Photo by Dan Kitwood/Getty Images)
Dan Kitwood/Getty Images
April was a bad time for Britain’s economy. Trump’s tariffs are a big reason why
JPMorgan Chase CEO Jamie Dimon said on Tuesday that the impact of tariffs has yet to show up in economic data.
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Jamie Dimon: The economy could ‘deteriorate’ soon
Inflation grew less than expected in May, the latest Consumer Price Index showed. That's welcome news for consumers, but the report did show hints of the higher prices that could come from tariffs.
Jae C. Hong/AP
Inflation rose less than expected last month despite Trump’s tariffs
People shop at a grocery store in Brooklyn on May 13, 2025 in New York City.
Spencer Platt/Getty Images
A break in the trade clouds lifted consumers’ spirits in May
Federal National Mortgage Association (FNMA) commonly known as Fannie Mae headquarters at 1100 15th St NW on October 9, 2024 in Washington, DC.
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Hedge funds could make billions from a Fannie Mae and Freddie Mac spin-off
Commuters cross Pennsylvania Avenue in Washington, DC, during the morning rush hour on March 20.
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The US economy added 139,000 jobs in May, slightly more than expected
A graduate of the Kennedy School of Government carries an inflatable globe during commencement exercises at Harvard University on May 29, 2025, in Cambridge, Massachusetts.
Josh Reynolds/The Washington Post/Getty Images
Trump’s attacks on international student enrollment could ultimately shake the economy
The Trump administration’s drastic cutbacks of government spending and the federal workforce have economists, researchers and statisticians sounding the alarm that the reliability and accuracy of economic data could become a casualty to those efforts.
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DOGE layoffs may have compromised the accuracy of government data
The European Central Bank building, right, in Frankfurt, Germany, pictured in June 2025.
Michael Probst/AP
Europe cuts interest rates again, day after Trump renews attacks on the Fed
A worker arc welds a metal door during production at the Metal Manufacturing Co. facility in Sacramento, California, on May 27, 2025.
David Paul Morris/Bloomberg/Getty Images
Private-sector firms added just 37,000 jobs in May, the lowest total in more than two years
Economists were expecting that the number of job openings — a closely watched gauge of labor market demand — would fall for the third consecutive month.
Ting Shen/Bloomberg/Getty Images
Job openings unexpectedly increased in April – but so did layoffs

Highlights

Evergreen shipping containers are pictured at the Port of Los Angeles, California in May 2025.
Frederic J. Brown/AFP/Getty Images
Trump’s tariff fallout? It’s worse than we previously thought, says OECD
A shopper surveys goods on display in a Costco warehouse Wednesday, May 21, 2025, in Lone Tree, Colorado.
David Zalubowski/AP
How American consumers are feeling the squeeze, in 4 charts
A container ship waits to berth at the port in Lianyungang, in China's eastern Jiangsu province on May 21.
-/AFP/AFP via Getty Images
122, 232, 301, 338: The numbers key to Trump’s tariff revival
Apple has tumbled 20% this year as President Donald Trump's tariff threats have clouded the outlook for the company.
Michael M. Santiago/Getty Images
Trump’s trade war is bruising Apple — and your 401(k)

More from Economy

Economists projected that consumer spending slowed in April and that inflation cooled to 2.2%.
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Americans pulled back on their spending in April amid tariff rollout
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Trump met with Jerome Powell today to scold him about rates. Powell stressed the Fed is staying out of politics
Shoppers hold bags while waiting to cross Post Street in San Francisco on March 27.
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America’s economy performed slightly better in the first quarter than we thought — but it still shrank
Trump administration orders some US companies to halt sales to China
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