Pres. Trump Lauds US Relationship With G7, Touts Reciprocal Trade

11 June, 2018, 02:06 | Author: Carlos George
  • G-7 split over Trump's call to readmit Russia

The image showed Angel Merkel, US President Donald Trump, Japanese Prime Minister Shinzo Abe, UK Prime Minister Theresa May, French President Emmanuel Macron and US National Security Adviser John Bolton.

Speaking to CNN today, Trump adviser Larry Kudlow says he personally negotiated with Trudeau during the two-day G7 summit in Quebec's Charlevoix region and insists the US agreed to the language in the communique in good faith.

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

Trump also tweeted that United States tariffs on imported steel and aluminum, including from Canada, were in response to Canada's tariffs on American dairy products.

U.S. stock indexes initially dipped on Friday, partly due to investor nervousness over the G7 summit, but later turned positive.

Trump's administration last week ended a two-month exemption to steel and aluminum imports from Mexico, Canada and the European Union.

Trump's call for the elimination of trade barriers come amid fears of an all-out trade war after the USA moved ahead with a 25% import tax on steel and a 10% on aluminum on most countries.

Trump said it should be readmitted, an idea that was unlikely to gain any traction at the G7 gathering, which groups Canada, the United States, Japan, Britain, Italy, France and Germany.

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"In fact, I congratulate leaders of other leaders for so crazily being able to make those trade deals that were so good for their country and bad for the United States".

The other G7 leaders will meet without Trump for the rest of the day, discussing climate change and global development.

He said the trade deficits that the US faces "with virtually every country in the world" is the fault of past leaders.

In a trade war, Trump told reporters that the United States has nothing to lose.

"The American President may not mind being isolated", Macron wrote on Twitter, "but neither do we mind signing a six country agreement if need be".

When a CNN reporter asked Trump to respond to a question about whether he had sowed division in the G7 in what many have described as a G6-plus-one scenario, the president excoriated the reporter for perpetuating "fake news". "And you know Obama can say all he wants, but he allowed Russian Federation to take Crimea", he said. He says that we are the problem with tariffs.

At issue are US tariffs against Canada and Trudeau's effort to retaliate against its neighbor - as well as Trudeau's comment to reporters that all seven leaders had come together to sign a joint declaration after the G-7 meeting. "I think it will be very positive", Trump said, without giving details.

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