The upcoming G7 summit in Évian-les-Bains and post-summit dinner at Versailles frame trader focus on bilateral exchanges between President Trump and President Macron, with the U.S.-led Iran conflict and Strait of Hormuz reopening as the dominant agenda items. Recent diplomatic contacts, including Trump’s public assessment of Macron’s cooperation on Hormuz at an 8 out of 10, alongside ongoing talks about sanctions relief, nuclear issues, and a potential U.S.-Iran memorandum, have shaped expectations around specific phrasing on coalition efforts or agreement terms. Broader trade tensions, tariff threats, and differing approaches to China and economic security add layers of uncertainty, consistent with the leaders’ prior meetings on Ukraine and tariffs. The tightly scheduled June 15–17 window and Versailles event create clear resolution timelines for any market tracking verbatim statements or policy signals.