• The G7 summit: Trump vs. the world

    8 Jun 2018 | Economic News


The annual G7 (Group of Seven) summit kicks off in Quebec on Friday, and the stage is set for a major showdown between the US and its allies.


The leaders of the G7, an informal bloc of some of the world’s most powerful industrialized countries, including Germany, the UK, and Japan, get together every year to discuss collaboration on issues like global security, the international economy, and climate change.

Trump is scheduled to head to Charlevoix, Quebec, for the two-day G7 meeting to sit down with the leaders of the US's closest allies. But a new report says the US president is not pleased about the visit.

The Washington Post reported that Trump has privately discussed sending Vice President Mike Pence instead. One of the largest reasons for Trump's reluctance is the host country, the report said.

Over the past week, Trudeau has been especially critical of Trump's decision to impose tariffs on imports of Canadian steel and aluminum. The Canadian prime minister has called the move "totally unacceptable" and "insulting" during various media appearances.

In private, the trade battle has strained a once cheery relationship between the two leaders. Trump reportedly joked on a call with Trudeau that the tariffs, which the US imposed under a national-security justification, were necessary because Canada burned down the White House during the War of 1812.

Other reasons for Trump's reluctance to head to Canada, per The Post, include his poor relationship with German Chancellor Angela Merkel and UK Prime Minister Theresa May, a distaste for the dressing down he's likely to receive from foreign leaders on trade, and a desire to focus on a summit with North Korea set for next week.

Aides are concerned that Trump may not agree to the joint statement typically put out by the participating countries at the end of the summit, according to The Post.


* Allies are ready to blast Trump's trade fights *

Whether or not Trump attends the G7 meeting, the specter of the president's belligerent trade policy will linger over the gathering.

Many of the attending members have expressed displeasure with Trump's tariffs imposed last week. Every other G7 country plans to launch retaliatory tariffs targeting US goods

There is also some recent precedent for strong condemnation from the member countries. An official statement from the meeting of G7 finance ministers last week made a startling break from the usually staid communiques by specifically calling out the US.

"Concerns were expressed that the tariffs imposed by the United States on its friends and allies, on the grounds of national security, undermine open trade and confidence in the global economy," the statement said. "Finance Ministers and Central Bank Governors requested that the United States Secretary of the Treasury communicate their unanimous concern and disappointment."



Reference: Business Insider, Vox


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