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Press conference at the G7 meeting in Canada with Bundesbank President Joachim Nagel

23.05.2025

At a meeting of the G7 finance ministers and central bank governors, Bundesbank President Joachim Nagel addressed the geopolitical challenges currently being faced. Speaking at a joint press conference with the new Federal Minister of Finance Lars Klingbeil in Banff, Canada, Mr Nagel said that while global economic activity had still been fairly robust at the start of the year, benefiting from the anticipatory effects of announced tariffs, the world economy was now struggling in the face of tightened US tariff policies and great uncertainty.

Press conference at the G7 meeting in Canada with Bundesbank President Joachim Nagel
Joachim Nagel and Lars Klingbeil at the press conference ©Agentur Photothek