Trump exits G7 with trade warning: Retaliatory tariffs would be 'mistake'
10 June, 2018, 02:12 | Author: Sheri Evans
US President Donald Trump railed against trade practices he called unfair to the United States at a Group of Seven nations summit where leaders agreed on Saturday to fight protectionism and reform the World Trade Organisation.
Later, Trump was pressed on whether he recognizes Crimea as a part of Russian Federation, which none of the G7 states now do.
Trumps pitch that world leaders eliminate all tariffs - or else - was his latest attempt to reorder the global trading system, which he says is stacked unfairly against the United States. "I think it will be very positive", Mr Trumpsaid on Friday, without giving details.
The president said the US was "pretty close" to reaching an agreement on the North American Free Trade Agreement with Canada and Mexico and had discussed two types of sunset provisions in which any of the countries could leave the deal.
The U.S. president did not appear to be listening during some of the trade presentations, another G7 official familiar with the meeting said.
The group of industrialized democracies - the U.S., France, Canada, Italy, Japan, Germany and the United Kingdom - traditionally issues a joint communique at the conclusion of their annual summit. Mexico slapped a 25% import tariff on US steel products, as well as 20% on pork products, 25% on bourbon and duties on other agricultural goods including cranberries.
"I may have had a much different attitude", Trump said.
He then held on to Trump, and pulled his hand towards him, forcing the U.S President, who is 30 years his senior, to break it off.
He said: "I have been Russia's worst nightmare".
Trump said he pushed for the elimination of trade barriers, including subsidies and tariffs, at the G-7 meeting.
The president went into the meeting under intense pressure from foreign leaders after he slapped high tariffs on steel and aluminum imports, citing USA national security needs.
Both Moscow and Mr Trump have denied the allegations.
The top Nafta negotiators from the USA and Canada met earlier during the summit, after Trump in the morning complained about what he called unfair trading.
Prime Minister Trudeau is being so indignant, bringing up the relationship that the USA and Canada had over the many years and all sorts of other things...but he doesn't bring up the fact that they charge us up to 300% on dairy - hurting our Farmers, killing our Agriculture!
Trump Leaves G-7 Summit With A Call To End 'Unfair' Trade
Trump says they will either have a better agreement on NAFTA or two deals involving separate trade deals with Canada and Mexico . Trump pulled out of President Barack Obama's landmark nuclear accord with Iran over the objections of European allies.
Mr. Trump, though, said conversations were cordial and respectful at the summit.
But by insisting on re-negotiating every five years, Trump is diametrically opposed with Canada, which says the sunset clause would create perpetual uncertainty and harm long-term investment. Or we'll stop trading with them.
Later, Trump will fly to Singapore where he is set to meet with North Korean leader Kim Jong Un on June 12.
Speaking about Russia's military incursion in Crimea, a peninsula that was part of Ukraine, Trump on Saturday blamed President Obama for the annexation.
On Saturday, Canadian Prime Minister Justin Trudeau sniped about "stragglers" after Trump was late to a breakfast session on gender equality.
Macron, for example, noted that under European Union rules France now has open borders with Britain and Germany and runs trade deficits with both - far from Trump's vision of "reciprocal" balanced trade.
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Trudeau, for his part, said Trump's action would hurt American workers as well as Canadians. Other members of the Group of Seven are France, Italy, Japan, Germany and Britain.
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