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00:00[CC may contain inaccuracies] Certainly this conflict in the Middle East looks set to overshadow hopes for progress on a, you know, the separate story that we haven't even gotten to today, which is a trade conversation. David Gura, our Bloomberg correspondent, joins us, in fact, right now in Alberta for us to give us a preview of what to expect this week. David, we're all yours. What are you what are you tracking there? Well, certainly this conflict in the Middle East is casting a huge shadow over this agenda, not the official agenda, but it's what everyone here is talking about. And we've seen as world leaders have made their way to Canada, conversations among them, statements issued about this conflict. And we have yet to see sort of if there's going to be any kind of cohesive statement among these G7 nations and other leaders, a message, a unified message about that conflict in the Middle East. So we'll look for that. But I should say that would not be in keeping with what we were said to expect here going into this summit. Everyone here remembers what happened in 2018, the last time the G7 was in Canada. Donald Trump ripped up the communique and left in a fit of pique and had a lot of criticism for then Prime Minister Justin Trudeau. Nobody wants that to happen this time around. So there's there's a lot of kind of delicate dancing in terms of what is on that agenda, what folks are talking about. I should say Ursula von der Leyen, the president, the European Commission is speaking right now and she said this summit is going to be defined by two things geoeconomics and geopolitics. So trade is something else that's again not on the official agenda, but a huge focus of everyone who's here. And there was some expectation before things erupted in the Middle East that we could see some agreements between the U.S. and other trading partners come out of this summit, maybe not concrete detailed deals, but kind of frameworks for them like we saw with the US and the U.K., I should say. Expectations for that have been scaled back dramatically. But the EU's head of trade policy is here on the ground in Canada. Ask us in Canada ahead of this summit. So those conversations, I suspect, will continue among these world leaders on the sidelines. Yeah, you mentioned there's a lot of things that could happen. Tell us, Mary, I mean, it's interesting, even just location of where this G7 is in Banff, a beautiful backdrop behind you. But tell us a bit more of the significance of that, because it seems like, you know, they wanted to host somewhere with a bit of a more neutral round in case of what happens. So the first thing you have to understand is just how wide this geography is. So there are parts of this. They're taking place in Calgary that's more than an hour from here. Can I ask, this is where the world leaders are gathered at a very small resort and very hard to get to place. And there is more happening where I am in Bam. But it's that central point. And Ken and ask us that's so critical here because you have this small group of world leaders. Yes, those are the G-7, but other nations as well, that Mark Carney, the prime minister, has invited to attend here, including Narendra modi. They think that in that setting, in that small group that can have the kind of frank conversations that would lead them to come to some kind of agreement on various issues is going to go back to what I said about that joint communique. No expectation here that these seven nations are going to emerge from this summit with kind of a unified statement on all of these fronts. There's just too much disagreement. But maybe the thinking goes, if they're in this very remote, small place in a very elegant hotel for a number of days, they'll be able to have those conversations on the sidelines that will kind of improve the level of comedy among these nations. We'll see if that happens. But that's certainly the hope and the expectation of Canada's fairly new prime minister, Mark Carney, who really wants this to go off without a hitch.

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Trump, Macron and Other G-7 Leaders Arrive in Canada: What to Expect

Donald Trump, Emmanuel Macron and other world leaders have arrived in Canada for the Group of Seven summit. As Bloomberg's David Gura reports, rising tensions in the Middle East and geopolitics are likely to dominate discussions. (Source: Bloomberg)

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