Published: Mon, June 11, 2018
Money | By Armando Alvarado

Trump breaks with G7 joint statement

Trump breaks with G7 joint statement

Tensions between the U.S. and its G7 partners over trade and the USA withdrawal from the Iran nuclear deal were rife in the face of the summit which had been dubbed by some as "G6 plus one", referring to an isolated US. "You end up with gradual escalation".

Those tweets also centered on trade. She took particular issue with Trump's previous claim that imports of Canadian steel and aluminum had made United States steel and aluminum plants unsustainable, thereby threatening national security.

Outraged, the allies have responded by targeting American products, including cheese, bourbon and pork.

The outburst against Trudeau, and by association the other G7 members, is only the latest incident in which Trump has clashed with America's closest allies, even as he has had warm words for autocrats like Kim and Russia's Vladimir Putin. He added that the US will take the necessary steps to protect industry and workers from unfair practices. "As long as he's president, this is the approach we have to expect".

Trump cautioned other nations -those in the G7 and around the world - that the size of the U.S. economy means other nations can't win a trade war.

In response, Trump clapped back against Trudeau on Twitter, writing - without calling Trudeau out by name - "The United States will not allow other countries to impose massive Tariffs and Trade Barriers on its farmers, workers and companies". "Very dishonest and weak", Trump said.

'And it's going to stop.

"They do so much more business with us than we do with them ... the numbers are so astronomically against them - we win that war a thousand times out of a thousand".

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Canada has said it will retaliate with more than $16 billion in tariffs on a range of goods. "Our Tariffs are in response to his of 270% on dairy!" the USA president tweeted.

EU Council President Donald Tusk hailed what he called a "first and very good, promising meeting" with Conte, while EU Commission president Jean-Claude Juncker said he "didn't see divergences between Italy and the rest of the European Union over trade".

"We strive to reduce tariff barriers, non-tariff barriers and subsidies", it said. "What was strong was the language that this can not go on, but the relationships are very good". The president offered no roadmap to a tariff-free world, and analysts greeted the proposal with skepticism.

But Conte said before the meeting began that Rome would have undertaken "a moderate line" over the trade dispute. "But who would take this challenge seriously from the president who declared in his inaugural address that "protection will lead to great prosperity" "?

Trump's salvo capped a dizzying two days of controversies that began with his suggestion Russian Federation be readmitted to the G7, then what a French official described as a "rant" full of "recriminations" against USA trading partners, followed by Trump's denial of any contention with leaders at the summit and his description of their relationship as a "10".

Now, Trump and foreign leaders face a string of trade decisions that will either preserve the existing global economic system or reshape it, with millions of jobs and trillions of dollars hanging in the balance.

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

Trump was reacting to comments made by Trudeau on Saturday in which he threatened to torpedo negotiations on a new NAFTA deal if the Americans did not remove tariffs on Canadian steel and aluminum.

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