How is Israel's bombing affected Iran's economy?

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• 00:00

  This is Andrew Peach with World Business Report.

• 00:02

  Today, as G7 leaders meet in Canada, the focus is on the Middle East,

• 00:07

  as President Trump says Iran is losing the war with Israel.

• 00:11

  And there's also talk of, you know what?

• 00:13

  I'm a tariff person.

• 00:14

  It's simple, it's easy, it's precise.

• 00:18

  I think Mark has a more complex idea, but also very good.

• 00:23

  Israel continues its bombardment of Tehran, will assess the economic impact on the city,

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  and the World Bank says less money is being invested in developing economies.

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  I'll be talking to one of its economists to find out why that matters.

• 00:37

  First, to the Canadian Rocky Mountains and the meeting of the G7 nations,

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  Canada, France, Germany, Italy, Japan, Britain and the US.

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  The idea of this forum is to find common ground on the big political and economic issues of the day.

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  Top of the agenda this year at the Middle East,

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  where attempts to evolve a joint position will be a challenge.

• 00:57

  President Trump says Iran is losing the war with Israel and blames Iran for not engaging fully in talks about its nuclear programme.

• 01:05

  There is little expectation the US will go along with any call for de-escalation.

• 01:10

  There are also tensions over tariffs, notably between the US and Canada,

• 01:14

  which President Trump continues to insist should become America's 51st state.

• 01:19

  But the Canadian Prime Minister Mark Carney...

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