G7 Leaders Press Trump on Iran War as 2.5% Global Growth Outlook Darkens

3 articles · Updated · POLITICO · Jun 13

France’s June 16-18 G7 summit is set to focus heavily on Trump’s Iran war, with European leaders expected to press him to end the conflict and reopen the strait.
Oil-market turmoil and disrupted energy flows have turned the war into an economic crisis for U.S. allies, pushing U.S. inflation to 4.2% in May and forcing central banks in Europe and Japan toward tighter policy.
Emmanuel Macron has invited Saudi, Qatari and Egyptian leaders to discuss securing the strait once a deal is reached, while France wants the G7 to address knock-on risks including fertilizer costs and food supplies.
The White House says trade, AI, energy and other issues remain on the agenda, but Trump’s reduced tariff leverage and allied frustration over the war leave Iran as the summit’s dominant unresolved issue.
The World Bank now sees 2026 global growth at 2.5%, down from 2.9% over the past two years, underscoring how the conflict is spilling into supply chains and the wider world economy.