Canada's Finance Minister François-Philippe Champagne said on Thursday that the discussions on tariffs did come up during a G7 finance leaders' meeting, even though there was mention of them in the final communique that was published.

Finance ministers and central bank governors from the Group of Seven democracies agreed during a meeting in western Canada that Russia could face further sanctions if it resists a push toward a cease-fire in its war in Ukraine.

Finance ministers and central bank governors from the Group of Seven democracies pledged on Thursday to address "excessive imbalances" in the global economy and discussed lowering the G7 price cap on Russian crude oil exports to $50 per barrel,