Finance
Trump’s tariffs will test unity among allies at G7 finance ministers’ summit – The Boston Globe
The Trump administration has reached an initial trade deal with one G7 member, the United Kingdom, and is engaged in talks with Japan and the European Union. But Canada still faces 25% duties on many of its exports to the United States, including autos, and the other three G7 members — France, Germany, and Italy — all face a baseline tariff of 10% on all their exports as part of the European Union.
It will be the first formal meeting of the G7 attended by U.S. Treasury Secretary Scott Bessent, who participated in a brief G7 gathering last month on the sidelines of the International Monetary Fund and World Bank meetings in Washington, D.C. Federal Reserve Chair Jerome Powell will also attend along with central bank governors from the other G7 nations.
“The message from colleagues is pretty clear is that a free and fair and a rules-based multilateral trading system, is a system in which we all win,” Francois-Philippe Champagne, Canada’s minister of finance, said Tuesday.
While many finance ministers gathered in Banff this week will likely seek one-on-one meetings with Bessent, it’s unlikely any trade deals will be reached, according to a person briefed on preparations for the meeting who spoke on condition of anonymity because they did not have authorization to speak about it publicly.
Instead, the finance officials will seek to smooth the way toward any agreements before a meeting of the heads of state of the G7 countries in June in nearby Kananaskis, Canada.
Bessent may be able to bring a more conciliatory tone to the meetings, Prasad said, as he is often seen as a relatively moderating influence on tariffs in the Trump White House.
And there will likely be some areas of agreement, particularly around the Trump administration’s goal to address what it calls “global imbalances” in world trade, a reference to the United States’ large annual trade deficits, which reflects that it imports more than it exports. The White House sees China as the key driver of such imbalances. China has a large trade surplus.
“Intentional policy choices by other countries have hollowed out America’s manufacturing sector and undermined our critical supply chains, putting our national and economic security at risk,” Bessent said in a speech last month during the IMF and World Bank meetings.
The status of the U.S. dollar may also come up, at least in informal conversations. The dollar dropped in value unexpectedly last month after Trump unveiled his widespread tariffs, while the interest rate on Treasury bonds rose, a sign international investors may have been dumping American assets as confidence in the country’s governance and economy eroded.
“In the hallways, they’re going to talk about nothing but tariffs and the dollar,” said Steven Kamin, a senior fellow at the American Enterprise Institute and former senior economist at the Federal Reserve.
At last year’s meeting of G7 finance officials in Stresa, Italy, they agreed on a joint statement that said the members have a “strong commitment to a free, fair, and rules-based” trading system. It’s not yet clear whether they will be able to agree on such a statement this year.
Another question hanging over the meetings will be whether the G7 can come to agreement on a new round of sanctions on Russia. The European Union and U.K. announced sanctions on Russian oil Tuesday, targeting Russia’s “shadow fleet” of unregistered oil tankers that are shipping its oil and allowing it to fund its war with Ukraine.
Proposals to lower a price cap on Russian oil, set as part of earlier rounds of international sanctions, down from its current level of $60 may also be discussed in meetings Wednesday.
Yet the Trump administration, while it has called for greater sanctions on Russian oil, hasn’t yet signed on to the new restrictions. Trump spoke with Russian President Vladimir Putin and Ukrainian leader Volodymyr Zelensky on Monday, and said the two countries would soon begin ceasefire talks, though no details were available.
Ukrainian Finance Minister Sergii Marchenko will also attend the G7 meetings this week, though Ukraine is not a member.
Daleep Singh, chief global economist at PGIM Fixed Income and a former deputy national security adviser in the Biden administration, said the issue of Russian oil sanctions will be a key test of what unity remains in the G7.
“If you’re looking for something to engender a just and lasting peace, oil sanctions are the place to look,” he said.
Harley-Davidson’s new CEO wants to transform how people think about the iconic motorcycle brand, so the company is trying something different.
This week, Harley announced a new strategy that focuses on lower-priced bikes, rather than relying on older, more affluent customers to buy its higher-margin touring models.
“Back to the Bricks builds on our core strengths and competitive advantages, harnessing the passion of our riders to deliver profitable growth for the Company and both our dealers and shareholders,” Harley CEO Artie Starrs said this week. “As we drive towards this new phase of growth, we remain committed to the craftsmanship and dedication that define our brand.”
Entry-level Harley-Davidsons cost about $13,000, while the higher-end Adventure Touring models average about $23,250, and the Premium Range &CVO models cost about $38,500, according to Reuters.
Harley’s new strategy targets a core profit of over $350 million from its motorcycle business by 2027 and over $150 million in cost reductions.
To kick off the new strategy, Harley is introducing Sprint, a new entry-level model powered by a smaller 440cc engine, later in the year.
What is Harley-Davidson’s “Back to the Bricks” strategy?
Harley’s new strategy relies on more than just pushing buyers toward cheaper vehicles to increase volume. The 123-year-old company has a set of five pillars on which it is building its future.
Harley-Davidson “Back to the Bricks” 5-point plan
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Deep appreciation of Harley-Davidson’s competitive advantages and legacy: The Company’s iconic brand, diversified and powerful revenue channels, and best-in-class dealer network provide a powerful foundation for growth.
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Renewed commitment to exclusive dealer network to drive enterprise profitability: Harley-Davidson’s dealers are a competitive advantage. The Company is planning actions to enable dealers to double profitability in 2026 and then double it again by 2029.
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Immediate actions to recapture share in areas where Harley-Davidson has right to win: Harley-Davidson has strong legacy equity in existing markets including new motorcycles, used motorcycles, Parts & Accessories, and Apparel & Licensing. The Company’s new strategy is focused on positioning the Company to regain share and drive meaningful volume growth in categories where it benefits from credibility, scale, and deep rider connection.
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Strong financial position with a path to stronger free cash flow and EBITDA margin: Cost and restructuring actions already underway support a path to stronger free cash flow and EBITDA margin over time.
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Bolstered management team with balance of fresh perspectives and institutional knowledge: Harley-Davidson has made a number of leadership appointments that support the Company as it leverages its innate strengths.
Written by Jitendra Parashar at The Motley Fool Canada
Dividend investing can be one of the simplest ways to build long-term wealth while creating a steady stream of passive income. But in my opinion, a good dividend stock is about much more than just a high yield. Beyond dividend yield, investors should also look for companies with durable businesses, reliable cash flows, and a history of rewarding shareholders consistently over time.
That’s exactly why many investors turn to financial stocks. Banks and asset managers often generate recurring earnings through lending, investing, and wealth management activities, allowing them to support stable dividend payments even during uncertain market conditions.
Two Canadian financial stocks that stand out right now are AGF Management (TSX:AGF.B) and Toronto-Dominion Bank (TSX:TD). Both companies offer attractive dividends backed by solid financial performance and long-term growth strategies. In this article, I’ll explain why these two financial stocks could be worth considering for income-focused investors right now.
AGF Management stock continues to reward shareholders
AGF Management is a Toronto-based asset manager with businesses across investments, private markets, and wealth management. Through these divisions, the company offers equity, fixed income, alternative, and multi-asset investment strategies to retail, institutional, and private wealth clients.
Following a 59% rally over the last 12 months, AGF stock currently trades at $16.67 per share with a market cap of roughly $1.1 billion. At current levels, the stock offers a quarterly dividend yield of 3.3%.
One reason behind AGF’s strong recent performance is its increasingly diversified business model. The company has expanded its investment capabilities and broadened its geographic reach, helping it perform well across varying market environments.
In the first quarter of its fiscal 2026 (ended in February), AGF posted free cash flow of $36 million, up 14% year over year (YoY), driven mainly by higher management, advisory, and administration fees. These fees climbed to $92.5 million as demand for the company’s investment offerings strengthened.
AGF has also been focusing on expanding its alternative investment business and introducing new investment products. With strong cash generation and growing demand for alternative investments, AGF Management looks well-positioned to continue rewarding investors over the long term.
TD Bank stock remains a dependable dividend giant
Toronto-Dominion Bank, or TD Bank, is one of North America’s largest banks, serving millions of customers through its Canadian banking, U.S. retail banking, wealth management and insurance, and wholesale banking operations.
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