Economy

President Trump planning on 'straightening out unfair trade deals' at G7 summit

President Trump planning on 'straightening out unfair trade deals' at G7 summit”

The President on Friday called for the inclusion of Russian Federation in the G7 summit.

Ahead of the summit, President Donald Trump exchanged contentious statements with European Union and Canadian leaders over trade issues sparked by new USA metal tariffs.

Fellow members of what was then the G8 suspended Russian Federation after it took control of Crimea from Ukraine.

He plans to leave the summit four hours earlier than originally planned to fly to Singapore to meet with North Korean leader Kim Jong Un, the White House said.

Trump, for his part, said he had a special relationship with Macron and they were working out a solution to the EU's huge surplus in bilateral trade with the United States, after accusing the French president on Twitter of unfairly charging massive tariffs on USA imports.

Canada's Trade Minister Francois Philippe Champagne was even more blunt, declaring: "What we are seeing is that the world economic order is under pressure, under attack".

Canada charges the US a 270% tariff on Dairy Products!

"The president has inexplicably shown our adversaries the deference and esteem that should be reserved for our closest allies", McCain said in a written statement, The Hill reports.

Trump pulled out of the Paris climate accord in June 2017, asserting that it was unfair to Americans.

German Chancellor Angela Merkel said earlier that Russia's return to the club was out of the question. Invoking his former rival Hillary Clinton, Trump touted how tough he is on Putin: "I have been Russia's worst nightmare". Why are we having a meeting without them? Canada has countered with a plan to impose tariffs of its own on USA metals and other consumer goods. "Look forward to seeing them tomorrow". Take down your tariffs & barriers or we will more than match you!

"President Trump will depart the G-7 Summit at Charlevoix at 10:30 a.m. Saturday, following the session on Women's Empowerment".

French President Emmanuel Macro has already spoken forcefully about the summit's willingness to reduce in size further to a group of six if Trump won't cooperate. In a statement at the time the countries, which include the U.S., France, Canada, Germany, Italy, the United Kingdom and Japan, condemned Russia's actions as "illegal" and in "contravention of worldwide law".

Italy has always been considered one of the most pro-Russia members of the European Union.

Host Canada and its European allies are striving to hold together a united front to oppose Trump's tariffs on aluminum, steel, cars and other exports, but global stock markets are rattled.

Trump railed against trade deficits with other countries.

. Trump's policies have been more protectionist and confrontational, driven by a perception that the USA has been the victim of poorly conceived trade deals.

He did not explain what kind of trade deal he was looking for. He wants to browbeat other countries for concessions, although he often fails to articulate which concessions he wants.

"The American President may not mind being isolated, but neither do we mind signing a 6 country agreement if need be". And they met again late this afternoon. "And then we'll see what happens".

Trump's deteriorating relationships with Trudeau and Macron - both of whom he has previously lavished with praise - come as the USA finds itself increasingly isolated from key allies over Trump's isolationist policies, including his decisions to pull out of the Paris climate agreement and to withdraw from the Iran nuclear deal.

Last week, however, steel and aluminum tariffs on imports from Mexico, Canada, and the European Union finally went into effect.

Canada and other US allies are retaliating with tariffs on USA exports. Canada is waiting until the end of the month to apply them with the hope the Trump administration will reconsider. "We are actually working on cutting tariffs and making it all very fair for both countries and made a lot of progress today".



Like this

loading...
loading...

Latest


09 June 2018
Hollywood Insiders say LeBron to the Lakers is Going to Happen
As for his triple-double count, Wednesday's trip-dub by James was his fourth in these playoffs and 10th in an NBA Finals contest . They could follow the blueprint the Houston Rockets used to compete against the Warriors in the Western Conference Finals.

09 June 2018
Today's Hot Stock Under Review - Baxter International Inc., (NYSE: BAX)
The pipeline company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. KMI is downtrending and has moved 18.18% since June 6, 2017. (NYSE: KMI ) is awaited on July, 18., according to Faxor.

09 June 2018
Watch LeBron James Leave Floor After Warriors Complete Sweep of Cavs
Durant, off his career personal best of 43 points, added 20 points, 12 rebounds and 10 assists as he locked down the MVP award. Hey, all in a day's work for the former two-time MVP who has had his sights set only on a third title trophy.

09 June 2018
Twitter reacts to news of Anthony Bourdain’s death
Of the 25 states where the suicide rate increase by more than 30 percent, the most noticeable rises occurred in western states . It is now the 10-leading cause of death in the USA , and is one of only three leading causes of death that are on the rise.

09 June 2018
New Number One As Forbes Publish Highest-Paid Athletes List 2018
Mayweather, Ronaldo and Tiger Woods are the only three athletes to have topped the list over the past 18 years, Forbes said . Other British athletes on the list include Anthony Joshua (25), Rory McIlroy (26), Gareth Bale (35) and Wayne Rooney (58).

09 June 2018
McGregor reveals he agreed to fight at UFC 224
UFC main event fights in pay-per-view events have been dropping like flies these past few months and UFC 225 is no different. Looking significantly worst-for-wear, "The Soldier of God" once again stripped down and weighed in behind a towel.

09 June 2018
"Guti Is Going To Coach Real Madrid", Says Real Murcia President
And with a huge compensation due if he is sacked, the Italian has no desire to quit of his own accord. And that could be the key to unlock the logjam in Chelsea's search for a manager to succeed Conte.

09 June 2018
Somalia conflict: One US soldier killed, four wounded in firefight
That incident caused a firestorm in Washington as lawmakers demanded answers on the operation and the larger US mission in Africa. Four U.S. service members were killed in a militant ambush in the west African nation of Niger in October.

09 June 2018
Tim Hortons Camp Day looking to build off success in Prince George
The proceeds are donated to the Tim Horton Children's Foundation (THCF), which works to help send kids to camp each summer. Partner schools are selected from priority neighbourhoods where the majority of students come from low-income homes.

09 June 2018
Populist Doug Ford set to win Ontario polls, promises prosperity
In a scrum with reporters, Horwath said she is "absolutely" going to stay on as leader of the Ontario NDP party. People waved party signs and embraced while they waited for Ford to arrive.