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Takeaways from President Biden’s first G7 summit

Biden Works to Convince Allies that “America’s Back" | GZERO World

If the US is really back, as President Biden keeps saying, what is it back to do? That was one of the biggest questions at the G7 summit in the United Kingdom last weekend, the first stop on the first trip abroad of Biden's presidency. The G7 tackled the world's biggest problem by pledging to donate 1 billion doses of the vaccine to COVAX, with 500 million of those coming from the United States. Taxes, climate change, China, and Russia were on the agenda, too. Biden's trip went better than Trump's last big outing, to be sure. Ian Bremmer recaps this year's historic G7 meeting.

Watch the GZERO Worldepisode: Has Biden convinced the G7 "America is back"?

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European Central Bank (ECB) President Christine Lagarde speaks to reporters following the Governing Council's meeting, in Frankfurt, Germany June 11, 2026.
REUTERS/Heiko Becker

The ECB raised interest rates for the first time since 2023, becoming the first G7 central bank to act against inflation driven by the war in Iran. With the Bank of Japan poised to follow suit, pressure mounts on the US Federal Reserve to respond.