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Face to face multi-lateral diplomacy is back. The band is getting back together, but the world has changed since the G7 last met.

Our species and our planet face grave threats and the West’s autocratic rivals have prospered and grown more powerful.

There is a huge amount at stake for those who want the world led by open, democratic, free societies.

COVID vaccines

G7 COVID

Coronavirus is the biggest challenge for the G7‘s first face-to-face summit since the pandemic broke out. Until the entire world is vaccinated, we all remain at risk of a new variant sending us back to square one.

Former British ambassador to the US who knows Joe Biden well, Sir Peter Westmacott, told Sky News the president and his allies know this is their number one priority.

“This virus is going to contaminate international business, travel, holiday making, unless we can eradicate it or pretty much eradicate it. It’s not good enough for one or two countries to do really well. So we have to work together on this, just like we have to work together if we’re going to save the planet,” he said.

And if the West fails to lead in vaccinating the world, its claim to global moral leadership could be fatally undermined.

Climate crisis

G7 climate

Prime Minister Boris Johnson says the world must apply the lessons learnt in the battle against COVID to tackling the second biggest challenge – climate change.

On the eve of the summit, America’s new president wrote that the US is “back in the chair on the issue of climate change” and “we have an opportunity to deliver ambitious progress that curbs the climate crisis”.

Economic recovery

G7 economy

The G7 needs to resuscitate a global economy weakened by the pandemic.

But even before the virus, millions were so disenchanted with the way things are run economically that they voted for populists like Donald Trump.

The G7 must convince them that the economic integration, globalisation and multilateral institutions that the West has worked so hard to build up are worth their mettle. Otherwise the populists will be back, maybe even Trump himself.

Sir Kim Darroch was British ambassador to the US.

He told Sky News that allies will remain nervous about that for some time to come, saying: “More people voted for Donald Trump [in 2020] than they did in 2016. So there is a way to go for them to be convinced that the American cause has been reset in a stable and consistent way for the foreseeable future.”

China

G7 China

China is a thorny issue the G7 knows it must handle carefully.

Its trampling of human rights in Hong Kong cannot be ignored. Likewise its treatment of the Uighurs in Xinjiang – genocidal, or near enough. And its bellicose statements about Taiwan.

If the G7 is serious about what it calls values-based diplomacy, it cannot turn a blind eye to any of these. But it can’t afford to alienate China either. It will be a tricky balancing act.

Former NATO secretary-general Anders Fogh Rasmussen told Sky News the G7 needs to be robust when it comes to the way China is behaving.

“An attack is not necessarily by tanks or aeroplanes,” he said. “On the contrary, you can use economic coercion as part of your aggressiveness. And that’s exactly what China is exercising.”

Mr Rasmussen suggests the free world applies an “all for one, one for all” approach to China’s economic bullying. That way Beijing might think twice about using its size and power to coerce smaller nations economically.

Superpower supremacy

G7

For some there’s nothing less at stake at this summit than who is going to run the world in the years ahead. Democracies or autocracies?

Anders Fogh Rasmussen warned the main challenge in the coming years will be the fight between autocracy and democracy, autocracy primarily represented by China and Russia, and to counter the advancing autocracies there’s the need to rally around basic democratic principles.

If that sounds a bit abstract, don’t underestimate how much that contest could effect us all. “It’s an existential question, it’s a question about who will set the global norms and standards in the future,” he argues.

Giving one example, Mr Rasmussen said: “You can use artificial intelligence to make our lives better and easier, but you can also use artificial intelligence to strengthen surveillance of your people, controlling your people. And if it’s Beijing who sets the international norms and standards for the use of artificial intelligence, semiconductors and data flows, etc, then we would undermine privacy and individual liberty. And that is what is at stake.”

Fortunately for the West, if it can get the individual challenges right, it has a better chance of winning the bigger battle, seeing off the threat from autocracies.

An alliance of democracies that can lead on COVID, lead on climate change and lead a global economic recovery will be a more appealing alternative to autocratic regimes in Moscow and Beijing – and more likely to reclaim its preeminent position. Failure will only strengthen Russia and China.

Hope for global action

G7 foreign aid

What happens in Cornwall will have an impact on all our lives.

The good news is this G7 is better placed than many before to achieve unity and success. Recent summits have been marred by Donald Trump’s impatience with the whole idea of western multilateral democracy.

Before that, the inclusion of Russia as part of the G8 group led inevitably to watered down compromise resolutions.

This G7 includes a reenergised America deeply committed to its principles, and the state of the world gives an urgency and potential for focus we have not seen in a long time.

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Stock markets suffer sharp drops after Donald Trump announces sweeping tariffs

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Stock markets suffer sharp drops after Donald Trump announces sweeping tariffs

Stock markets around the world fell on Thursday after Donald Trump announced sweeping tariffs – with some economists now fearing a recession.

The US president announced tariffs for almost every country – including 10% rates on imports from the UK – on Wednesday evening, sending financial markets reeling.

While the UK’s FTSE 100 closed down 1.55% and the continent’s STOXX Europe 600 index was down 2.67% as of 5.30pm, it was American traders who were hit the most.

Trump tariffs latest: US stock markets tumble

All three of the US’s major markets opened to sharp losses on Thursday morning.

A person works on the floor at the New York Stock Exchange in New York, Monday, March 31, 2025. Pic: AP
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The S&P 500 is set for its worst day of trading since the COVID-19 pandemic. File pic: AP

By 8.30pm UK time (3.30pm EST), The Dow Jones Industrial Average was down 3.7%, the S&P 500 opened with a drop of 4.4%, and the Nasdaq composite was down 5.6%.

Compared to their values when Donald Trump was inaugurated, the three markets were down around 5.6%, 8.7% and 14.4%, respectively, according to LSEG.

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Worst one-day losses since COVID

As Wall Street trading ended at 9pm in the UK, two indexes had suffered their worst one-day losses since the COVID-19 pandemic.

The S&P 500 fell 4.85%, the Nasdaq dropped 6%, and the Dow Jones fell 4%.

It marks Nasdaq’s biggest daily percentage drop since March 2020 at the start of COVID, and the largest drop for the Dow Jones since June 2020.

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The latest numbers on tariffs

‘Trust in President Trump’

White House press secretary Karoline Leavitt told CNN earlier in the day that Mr Trump was “doubling down on his proven economic formula from his first term”.

“To anyone on Wall Street this morning, I would say trust in President Trump,” she told the broadcaster, adding: “This is indeed a national emergency… and it’s about time we have a president who actually does something about it.”

Later, the US president told reporters as he left the White House that “I think it’s going very well,” adding: “The markets are going to boom, the stock is going to boom, the country is going to boom.”

He later said on Air Force One that the UK is “happy” with its tariff – the lowest possible levy of 10% – and added he would be open to negotiations if other countries “offer something phenomenal”.

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How is the world reacting to Trump’s tariffs?

Economist warns of ‘spiral of doom’

The turbulence in the markets from Mr Trump’s tariffs “just left everybody in shock”, Garrett Melson, portfolio strategist at Natixis Investment Managers Solutions in Boston, told Reuters.

He added that the economy could go into recession as a result, saying that “a lot of the pain, will probably most acutely be felt in the US and that certainly would weigh on broader global growth as well”.

Meanwhile, chief investment officer at St James’s Place Justin Onuekwusi said that international retaliation is likely, even as “it’s clear countries will think about how to retaliate in a politically astute way”.

He warned: “Significant retaliation could lead to a tariff ‘spiral of doom’ that could be the growth shock that drags us into recession.”

Read more:
Do Trump’s ‘Liberation Day’ tariff numbers add up?

Tariffs about something more than economics: power

It comes as the UK government published a long list of US products that could be subject to reciprocal tariffs – including golf clubs and golf balls.

Running to more than 400 pages, the list is part of a four-week-long consultation with British businesses and suggests whiskey, jeans, livestock, and chemical components.

Meanwhile, Prime Minister Sir Keir Starmer said on Thursday that the US president had launched a “new era” for global trade and that the UK will respond with “cool and calm heads”.

It also comes as Canadian Prime Minister Mark Carney announced a 25% tariff on all American-imported vehicles that are not compliant with the US-Mexico-Canada trade deal.

He added: “The 80-year period when the United States embraced the mantle of global economic leadership, when it forged alliances rooted in trust and mutual respect and championed the free and open exchange of goods and services, is over. This is a tragedy.”

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Trump’s tariffs are about something more than economics: power

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Trump's tariffs are about something more than economics: power

Tanking stock markets, collapsing world orders, devastating trade wars; economists with their hair ablaze are scrambling to keep up.

But as we try to make sense of Donald Trumps’s tariff tsunami, economic theory only goes so far. In the end this surely is about something more primal.

Power.

Understanding that may be crucial to how the world responds.

Yes, economics helps explain the impact. The world’s economy has after all shifted on its axis, the way it’s been run for decades turned on its head.

Instead of driving world trade, America is creating a trade war. We will all feel the impact.

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PM will ‘fight’ for deal with US

Donald Trump says he is settling scores, righting wrongs. America has been raped, looted and pillaged by the world trading system.

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But don’t be distracted by the hyperbole – and if you think this is about economics alone, you may be missing the point.

Above all, tariffs give Donald Trump power. They strike fear into allies and enemies, from governments to corporations.

This is a president who runs his presidency like a medieval emperor or mafia don.

It is one reason why since his election we have seen what one statesman called a conga line of sycophants make their way to the White House, from world leaders to titans of industry.

The conga line will grow longer as they now redouble their efforts hoping to special treatment from Trump’s tariffs. Sir Keir Starmer among them.

President Trump’s using similar tactics at home, deploying presidential power to extract concessions and deter dissent in corporate America, academia and the US media. Those who offer favours are spared punishment.

His critics say he seeks a form power for the executive or presidential branch of government that the founding fathers deliberately sought to prevent.

Whether or not that is true, the same playbook of divide and rule through intimidation can now be applied internationally. Thanks to tariffs

Each country will seek exceptions but on Trump’s terms. Those who retaliate may meet escalation.

This is the unforgiving calculus for governments including our own plotting their next moves.

The temptation will be to give Trump whatever he wants to spare their economies, but there is a jeopardy that compounds the longer this goes on.

Read more:
Do Trump’s numbers on tariffs really add up?
Trump hits island home only to penguins with 10% tariffs

Chinese Vice President Han Zheng gestures to Britain's Chancellor of the Exchequer Rachel Reeves following a photo session at the Great Hall of the People in Beijing, Saturday, Jan. 11, 2025. (Florence Lo/Pool Photo via AP)
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Could America’s traditional allies turn to China? Pic: AP

Malcolm Turnbull, the former Australian prime minister who coined the conga line comparison, put it this way: “Pretty much all the international leaders I have seen that have sucked up to Trump have been run over. The reality is if you suck up to bullies, whether it’s global affairs or in the playground, you just get more bullying.”

Trading partners may be able to mitigate the impact of these tariffs through negotiation, but that may only encourage this unorthodox president to demand ever more?

Ultimately the world will need a more reliable superpower than that.

In the hands of such a president, America cannot be counted on.

When it comes to security, stability and prosperity, allies will need to fend for themselves.

And they will need new friends. If Washington can’t be relied on, Beijing beckons.

America First will, more and more, mean America on its own.

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‘A genius actor’, ‘firecracker’, and ‘my friend’: Tributes paid to Top Gun star Val Kilmer

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'A genius actor', 'firecracker', and 'my friend': Tributes paid to Top Gun star Val Kilmer

Actors, directors and celebrity friends have paid tribute to Val Kilmer, after he died aged 65.

The California-born star of Top Gun, Batman and Heat died of pneumonia on Tuesday night in Los Angeles, his daughter Mercedes told the Associated Press.

She said Kilmer was diagnosed with throat cancer in 2014 but later recovered.

Tributes flooded in after reports broke of the actor’s death, with No Country For Old Men star Josh Brolin among the first to share their memories.

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Watch: Val Kilmer in his most iconic roles

He wrote on Instagram: “See ya, pal. I’m going to miss you. You were a smart, challenging, brave, uber-creative firecracker. There’s not a lot left of those.

“I hope to see you up there in the heavens when I eventually get there. Until then, amazing memories, lovely thoughts.”

Kyle Maclachlan, who co-starred with Kilmer in the 1991 biopic The Doors, wrote on social media: “You’ll always be my Jim. See you on the other side my friend.”

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Michael Mann, who directed Kilmer in 1995’s Heat, also paid tribute in a statement, saying: “I always marvelled at the range, the brilliant variability within the powerful current of Val’s possessing and expressing character.

“After so many years of Val battling disease and maintaining his spirit, this is tremendously sad news.”

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Heat co-star Danny Trejo also called Kilmer “a great actor, a wonderful person, and a dear friend of mine” on Instagram.

Cher, who once dated the actor, said on X that “U Were Funny, crazy, pain in the ass, GREAT FRIEND… BRILLIANT as Mark Twain, BRAVE here during ur sickness”.

Lifelong friend and director of Twixt, Francis Ford Coppola said: “Val Kilmer was the most talented actor when in his High School, and that talent only grew greater throughout his life.

“He was a wonderful person to work with and a joy to know – I will always remember him.”

The Top Gun account on X also said it was remembering Kilmer, who starred as Iceman in both the 1986 original and 2022 sequel, and “whose indelible cinematic mark spanned genres and generations”.

Nicolas Cage added that “I always liked Val and am sad to hear of his passing”.

“I thought he was a genius actor,” he said. “I enjoyed working with him on Bad Lieutenant and I admired his commitment and sense of humor.

“He should have won the Oscar for The Doors.”

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