G7 tensions high after 'rant' over trade

G7 tensions high after 'rant' over trade

G7 tensions high after 'rant' over trade

Trump was heading into a bigger controversy over trade as other G7 leaders, including host Canadian Prime Minister Justin Trudeau, have been angered over Washington's imposition of tariffs on steel and aluminum imported from allies including Canada and the European Union.

Trump had bilateral meetings on Friday with Canadian Prime Minister Justin Trudeau and French President Emmanuel Macron.

Trudeau announced hours earlier that all G7 members had endorsed the joint communique, despite the recent trade tensions between the United States and other G7 allies.

Trump, who repeated that his tariffs are meant to protect USA industry and workers from unfair global competition, told reporters he had suggested to the other G7 leaders that all trade barriers, including tariffs and subsidies, be eliminated.

Asked whether she was concerned the President could pull out of the trip if a trade war with the European Union escalates, Mrs May said Mr Trump had said was looking forward to the trip.

After a war of words the day before, American-French relations appear to be back on track at the G7 summit on Friday.

Trudeau confirmed he had warned Donald Trump his country would impose retaliatory tariffs on U.S. goods from July 1, denouncing Trump's decision to invoke national security concerns to impose tariffs on aluminum and steel as "insulting" to the Canadian war veterans who had fought alongside USA allies.

Trudeau's office responded to Trump's tweet saying "We are focused on everything we accomplished here at the #G7 summit".

The demise of the fragile communique is seen as a major blow to the strength of the G7 alliance, which is made up of wealthy developed democracies that also includes Germany, Japan, France, the United Kingdom and Italy.

Once again, Trump emphasized that the days of the US getting the short end of the stick in its trading relationships with the world were over under his watch.

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"The United States has been taken advantage of for decades and decades", Trump told reporters in the Quebec resort town of La Malbaie.

"Ultimately that's what you want", Trump said.

Trump then called Trudeau "Very dishonest & weak" in a follow-up tweet.

The president said he was unconcerned about raising a trade ruckus at the gathering that usually emphasizes unity and downplays its disagreements.

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

The EU has pledged its own set of retaliatory tariffs, which would come into force next month and target American exports such as bourbon whiskey and jeans.

"We had extremely productive discussions on the need to have fair and reciprocal" trade, he said.

Fox Business contributors James Freeman and Kristina Partsinevelos discuss President Trump's upcoming meeting with North Korean Leader Kim Jong Un and the president's recently imposed tariffs.

He will also be gone before allies begin closing news conferences likely to be critical of the US stance on trade and Trump's suggestion that Russian Federation be re-admitted to the G7.

"We're like the piggy bank that everybody's robbing", Trump complained.

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