#g20-policy

#g20-policy

We stand ready to take all necessary measures in close coordination with our partners, including to preserve the stability and security of the energy market, said the G7 in a statement after a teleconference.

We are not there yet. What we've agreed upon is to use any necessary tools, if needed, to stabilise the market, including the potential release of stockpiles.

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DAVOS, Switzerland It was among the most volatile weeks for trans-Atlantic relations in recent history, marked by a series of disruptive statements from President Trump that unsettled global markets and strained relations with some of America's closest allies on topics that ranged from Greenland to Gaza. The diplomatic whiplash was on full display in the Swiss ski resort of Davos, where the annual World Economic Forum unfolded against the backdrop of growing uncertainty about America's role as a global leader among Western democracies.

The World Economic Forum's annual meeting in Davos felt different this year, and not just because Meta and Salesforce took over storefronts on the main promenade. AI dominated the conversation in a way that overshadowed traditional topics like climate change and global poverty, and the CEOs weren't holding back. There was public criticism of trade policy, warnings about AI bubbles popping, and a lot of talk about what comes next for the industry.

The European Union and the Mercosur bloc of South American countries formally signed a long-sought landmark free trade agreement on Saturday, capping more than a quarter-century of torturous negotiations to strengthen commercial ties in the face of rising protectionism and trade tensions around the world. The signing ceremony in Paraguay's capital, Asunción, marks a major geopolitical victory for the EU in an age of American tariffs and surging Chinese exports, expanding the bloc's foothold in a resource-rich region increasingly contested by Washington and Beijing.

The European Union will on Saturday sign a deal 25 years in the making with the South American trade bloc Mercosur, creating one of the world's largest free trade areas at a time of growing protectionism and volatility. The long-awaited agreement comes amid the sweeping use of tariffs and trade threats by US President Donald Trump's administration, which has sent countries scrambling for new partnerships.

The display isn't necessarily based on the communication style of the leaders of these titans. Huang and Nadella, for example, tend toward a thoughtful and moderate discourse, and even the hyperbolic Musk was relatively restrained in his conversation with Larry Fink (BlackRock) on the main stage in Davos. But the flexing of muscles is evident in the arguments presented, in conjunction with the data.

World leaders, rattled by Donald Trump's latest gambit in Greenland, look to present a united front at the World Economic Forum. As world leaders, including allies of the United States, gather in the Swiss resort city of Davos for the World Economic Forum (WEF), US President Donald Trump's attacks on the existing global world order have been on the top of their minds with Canadian Prime Minister Mark Carney saying the US-led global system is enduring a rupture.

Ministers from the US, EU, UK, Japan, Australia and New Zealand will meet in Washington this week to discuss a strategic alliance over critical minerals. The summit is being seen as a step to repair transatlantic ties fractured by a year of conflict with Donald Trump and pave the way for other alliances to help countries de-risk from China, including one centred on steel.

He announced a 10 percent tariff on eight European countries that had sent troops to Greenland for a military exercise. On Sunday afternoon, he composed a poorly punctuated, paranoiac note to the Norwegian prime minister in which he blamed the Norwegian government for not being awarded the Nobel Peace Prize, said the rejection had liberated him to stop thinking about peace, and claimed that it had set him on the path to conquer Greenland to protect the United States.

"M&A is high on the agenda," said Sharon Marcil, North America chair at BCG. "We're hearing it from so many CEOs."

Jim O'Neill, the economist who coined the term BRIC' 25 years ago, argues that the group is losing its relevance. At its peak, the BRICS coalition of economies Brazil, Russia, India, China and South Africa was seen as a serious attempt to move away from the United States dollar and the domination of Western economic institutions like the World Bank, Group of Seven (G7), and International Monetary Fund (IMF).

We knew the story of the international rules-based order was partially false. That the strongest would exempt themselves when convenient. That trade rules were enforced asymmetrically. ... That international law applied with varying rigor depending on the identity of the accused or the victim,

The International Monetary Fund has warned mounting geopolitical tensions and an escalation of Donald Trump's tariff war could hit global economic growth and trigger a backlash in financial markets. In an update as Trump threatens to impose tariffs on Nato allies opposed to his ambitions in Greenland, the Washington-based fund said a renewed eruption in trade tensions was among the biggest risks to global growth in 2026.

The meeting, held from 19 to 23 January under the theme "A Spirit of Dialogue," took place at a time when the global situation still feels uncomfortable. Inflation has eased in some places, but not enough to make central banks relaxed. Growth is holding in parts of the world and slowing in others. Debt remains high, and trade has become more political.