G7 asks Mnuchin to con­vey ‘con­cern and dis­ap­point­ment’ on tar­iffs

Stabroek News Sunday - - WORLD NEWS -

WHISTLER, Bri­tish Columbia, (Reuters) - Fi­nance lead­ers of the clos­est U.S. al­lies vented anger over the Trump ad­min­is­tra­tion’s metal im­port tar­iffs but ended a three-day meet­ing in Canada yes­ter­day with no so­lu­tions, set­ting the stage for a heated fight at a G7 sum­mit next week in Que­bec.

U.S. Trea­sury Sec­re­tary Steven Mnuchin failed to soothe the frus­tra­tions of his Group of Seven coun­ter­parts over the 25 per­cent steel and 10 per­cent alu­minum tar­iffs that Wash­ing­ton im­posed on Mex­ico, Canada and the Euro­pean Union this week.

“Fi­nance Min­is­ters and Cen­tral Bank Gov­er­nors re­quested that the United States Sec­re­tary of the Trea­sury com­mu­ni­cate their unan­i­mous con­cern and dis­ap­point­ment,” the group said in a sum­mary state­ment writ­ten by Canada.

“Min­is­ters and Gov­er­nors agreed that this dis­cus­sion should con­tinue at the Lead­ers’ Sum­mit in Charlevoix (Que­bec), where de­ci­sive ac­tion is needed,” the state­ment said.

All six of the other G7 coun­tries are now pay­ing the tar­iffs, which are largely aimed at curb­ing ex­cess pro­duc­tion in China. The topic dom­i­nated dis­cus­sions at the fi­nance meet­ing in the Cana­dian moun­tain resort of Whistler, Bri­tish Columbia.

French Fi­nance Min­is­ter Bruno Le Maire said the United States Sec­re­tary of the Trea­sury Steven Mnuchin (right) walks back to his ho­tel af­ter the G7 Fi­nance Min­is­ters Sum­mit in Whistler, Bri­tish Columbia, Canada. (Reuters photo)

United States has only a few days to avoid spark­ing a trade war with its al­lies and it is up to the United States to make a move to de-es­ca­late ten­sions over

tar­iffs.

Speak­ing af­ter the meet­ing, Le Maire said the EU was poised to take coun­ter­mea­sures against the new U.S. tar­iffs.

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