Trump retracts U.S. support for G7 statement

Trump retracts U.S. support for G7 statement

Trump retracts U.S. support for G7 statement

"I highlighted directly to the president that Canadians did not take it lightly that the United States has moved forward with significant tariffs on our steel and aluminum industry", Trudeau said at a news conference at the meeting's end.

There, Trudeau repeated his earlier description of United States trade tariffs as "insulting" and vowed retaliatory measures would come in July.

Trudeau said he had told Trump that the talks had been made more complicated by a USA decision to impose tariffs on Canadian steel and aluminum, ostensibly for national security reasons.

The G7 summit came after the Trump administration announced last week to impose tariffs on steel and aluminum imports from the European Union (EU), Canada and Mexico, which has drawn strong opposition from the domestic business community and quick retaliation from us major trading partners.

Germany and France on Sunday sharply criticised US President Donald Trump's decision to abruptly withdraw his support for a Group of Seven communique, accusing him of destroying trust and acting inconsistently.

"International cooperation can not depend on being angry and on sound bites". "But he doesn't bring up the fact that they charge us up to 300% on dairy - hurting our Farmers, killing our Agriculture", the U.S. president said.

Trump will leave the summit about 4 hours early Saturday to fly to Singapore for his summit meeting with North Korea's Kim Jong Un...

"The U.S.is officially in a trade war with Canada", Buzzfeed reporter David Mack wrote in response to Trump's tweet.

Trump appeared to have taken notice and pushed back: "Please tell Prime Minister Trudeau and President Macron that they are charging the USA massive tariffs and create non-monetary barriers", Trump said in a tweet.

"Trump did not want to be isolated", Macron said.

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The majority of Canadian exports go to the United States, making Canada uniquely vulnerable to a US trade war. On Saturday, Trump said again that he might pursue separate trade pacts with Canada and Mexico instead of a continuing with a three-country NAFTA deal.

Such a move could make it almost impossible to renegotiate the terms of the 1994 NAFTA pact between the United States, Canada and Mexico.

We can't pose a security threat to the United States, and I know that Americans understand that.

The confrontation over USA tariffs on steel and aluminium imports threatened to rupture the G7, which during its 42-year history has traditionally sought to find consensus on the economy and other issues.

He also denied the summit had been contentious, a remark that contradicted what one G7 official described as an "extraordinary" exchange on Friday in which Trump repeated a list of trade grievances, mainly concerning the European Union and Canada.

Here's a World Bank graph of trade-weighted average tariffs for the G7 countries - with USA almost identical to UK/Italy/France/Ger, higher than Japan/Can.

Europe's answer must be to stick even closer together, defend its interests and strengthen alliances with countries such as Japan and Canada, he said.

G7 member countries say that despite the sharp tensions they had signed the joint statement advocating a "rules-based trading system".

Earlier on Saturday, Trump told reporters it would be "very easy" to make the case for tariffs on auto imports using the rationale that they threaten national security.

The president also referred to Trudeau's "false statements", which he didn't explain.

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