US, EU take small steps on trade
la malbaie (Quebec) — US President Donald Trump delivered a stern warning on trade to foreign countries at the Group of Seven summit on Saturday, advising trading partners not to retaliate against US tariffs on the imports of steel and aluminum.
“If they retaliate, they’re making a mistake,” Trump declared.
Trump told reporters he pressed for “fair and reciprocal” trade practices at the G7 meeting in Canada, urging his foreign counterparts to eliminate all tariffs, trade barriers and subsidies in their trading practices.
The president has been at odds with key allies over the new tariffs, which dominated his talks with the leaders of major industrialised nations in the Canadian resort town. In addition to the US and Canada, the group includes Britain, Italy, France, Germany and Japan.
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. Trump said the final outcome would lead either to a better agreement on Nafta or separate trade deals with both Canada and Mexico.
Trump was departing the Canadian summit several hours early, heading to Singapore for his summit with North Korea’s Kim Jong Un on what he called a “mission of peace”.
Relationship a ‘10’
Trump also pushed back on the idea that the US is increasingly isolated on the world stage under his presidency, insisting his relationship with fellow word leaders is “a 10”.
Trump criticised the premise of the question, which came from CNN during a G-7 news conference. He bashed “fake news CNN” as “the worst” on foreign soil. Trump said: “I would say the level of relationship is a 10. We have a great relationship” with the leaders of nations like Canada.
US, EU take a small step
Meanwhile, the United States and European Union will establish a dialogue on trade within the next two weeks, a French official said, signalling a modest step forward for bitterly divided allies at a Group of Seven summit in Canada.
US trading partners have been furious over Trump’s decision last week to impose tariffs on steel and
The principle of a dialogue [between the EU and US] was agreed this afternoon... Everyone agreed, including President Trump French official
aluminum imports from Canada, the European Union and Mexico as part of his “America First” agenda. Some countries have retaliated with their own levies on US imports. “The principle of a dialogue was agreed this afternoon,” the French official told reporters. “Everyone agreed, including President Trump.”
While G7 leaders confronted Trump with a slew of data on imports and exports in a bid to sway his thinking, Trump countered his own numbers and held his position that the United States was at a disadvantage on international trade, an official who followed the talks said.
But Trump struck a more affable tone after a meeting with French President Emmanuel Macron, saying the French leader was helping work out trade issues.
“Something’s going to happen. I think it will be very positive,” Trump said, without giving details. — AP/Reuters