Posted By Global Banking and Finance Review
Posted on May 22, 2025
BANFF, Canada (Reuters) -German Finance Minister Lars Klingbeil is optimistic about relations with Washington after his meeting with U.S. Treasury Secretary Scott Bessent, he told journalists on the sidelines of the Group of Seven (G7) ministerial meeting in Banff, Canada.
"I noticed the positive signals and believe we can build on them," Klingbeil, who also serves as vice chancellor in the new German government, said late on Wednesday.
Klingbeil said that both ministers had agreed to meet again in Washington, with Bessent inviting Klingbeil.
Germany is worried about the impact of U.S. President Donald Trump's sweeping tariff regime on its export-focused economy, which has been mired in downturn for two years.
Bessent has been tasked with renegotiating the United States' trading relationships, with Klingbeil saying after his meeting with the U.S. treasury secretary that the task now was to find solutions.
The German minister also expressed confidence that the G7 finance ministers' meeting in the Canadian Rockies would deliver a joint communique.
It was clear from discussions that the G7 would continue to support Ukraine, Klingbeil said, adding: "That is also an important sign."
(Reporting by Christian Kraemer, Writing by Rachel More, Editing by Kirsti Knolle)
