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giftedviz.com October 23, 2018


Hopes For Unified G7 Statement Seemingly Dashed After Trump Tweet

11 June 2018, 12:30 | Austin Hogan

France and Germany both reacted with anger to Mr Trump's decision.

"Canada's Freeland, who met with U.S. Trade Representative Robert Lighthizer on Friday, said she would speak to him later on Sunday, adding that she believed a deal to renew the North American Free Trade Agreement was still possible".

But on Saturday, the president warned other countries against ramping up measures in response to US tariffs.

After leaving the summit, President Donald Trump tweeted that he'd instructed USA officials not to endorse a joint statement with the other six member nations. US$100 billion is S$133 billion.

Former prime minister Stephen Harper also shared his perspective on the trade spat between Canada and the U.S. Harper said that although he could understand the United States wanting better trade relations with countries like China and Mexico, he can't "understand the obsession with trade relations with Canada". The United States previous year posted a trade gap in goods and services of $101 billion with the European Union, $57 billion with Japan and $69 with Mexico.

The exchange left Trump estranged from America's partners at the moment he is about to stride onto the most important world stage he has assumed since taking office.

"The world as we know it, namely the US-led rules-based multilateralism, is now in serious danger of unraveling, as illustrated at the G7 meeting", said Erik Nielsen, chief economist at Unicredit Bank. He complained that he had been blindsided by Canadian Prime Minister Justin Trudeau's criticism of his tariff threats at a summit-ending news conference.

A Trudeau spokesman, Cameron Ahmad, said Saturday night that Trudeau "said nothing he hasn't said before - both in public and in private conversations" with Trump.

"He really kind of stabbed us in the back", he said, adding Trump "is not going to let a Canadian prime minister push him around on the eve of this. he is not going to permit any show of weakness on the trip to negotiate with North Korea".

Trump gave "a long, frank rant", the official said, repeating a position he carried through the 2016 US election campaign into the White House that the United States had suffered at the hands of its trading partners, with French President Emmanuel Macron pushing back on the assertion and Japanese Prime Minister Shinzo Abe chiming in.

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But he promised an end to the situation, and even warned of penalties for countries that do not remove trade barriers.

Trade adviser Peter Navarro told "Fox News Sunday" that "there is a special place in hell for any leader that engages in bad faith diplomacy" with Trump.

"And so began a long litany of recriminations, somewhat bitter reports that the United States was treated unfairly, that the trading system was totally unfavorable to the United States, the American economy, American workers, the middle class", the official said.

"Rather than imposing tariffs on each other we should instead be increasing pressure on China to reduce its excess steel capacity", the official said.

The president has imposed tariffs on steel and aluminum imported from Europe, Canada and Mexico, fueling fears of a trade war as a number of countries mull retaliatory measures.

"The United States loses political influence in the rest of the world, and they also lose position as a centerpiece in efforts to find global joint mechanisms and set the agenda", said Solberg, who had been invited to attend the summit. "That is where the insult lies".

Other members of the Group of 7 stood with Canada against Trump.

French President Emmanuel Macron's office issued a statement that warned "international co-operation can not be dictated by fits of anger and throwaway remarks".

"We have to keep a cool head now and draw the right conclusions", Maas said.



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