President Donald Trump on Saturday
said that the Group of Seven industrialized nations should become a
“tariff-free” zone but warned that other countries must first change
their own trade polices and stop using the U.S. as “a piggy bank
everyone is robbing.”
said that the Group of Seven industrialized nations should become a
“tariff-free” zone but warned that other countries must first change
their own trade polices and stop using the U.S. as “a piggy bank
everyone is robbing.”
In a solo press conference
before he departed the G-7 summit in Quebec, Mr. Trump dismissed
suggestions of tensions between him and his G-7 counterparts —
describing the relationship as “a 10” — and blaming past U.S. leaders
for “bad” trade deals.
before he departed the G-7 summit in Quebec, Mr. Trump dismissed
suggestions of tensions between him and his G-7 counterparts —
describing the relationship as “a 10” — and blaming past U.S. leaders
for “bad” trade deals.
Mr. Trump spoke in La
Malbaie, Canada, ahead of his departure to Singapore for his historic
summit with North Korean leader Kim Jong Un.
Malbaie, Canada, ahead of his departure to Singapore for his historic
summit with North Korean leader Kim Jong Un.
“I
congratulate the leaders of other countries for so crazily being able to
make these trade deals that were so good for their countries and so bad
for the United States,” Mr. Trump said. “But those days are over.”
congratulate the leaders of other countries for so crazily being able to
make these trade deals that were so good for their countries and so bad
for the United States,” Mr. Trump said. “But those days are over.”
The
U.S. leader indicated his administration would continue to take a tough
stance on trade policy as he called for “no tariffs, no barriers … and
no subsidies.”
U.S. leader indicated his administration would continue to take a tough
stance on trade policy as he called for “no tariffs, no barriers … and
no subsidies.”
Mr. Trump said that American
farmers and workers have been hurt, with companies moving abroad to
Mexico and Canada. “Now we’re going to fix that situation. And if it’s
not fixed, we’re not going to deal with these countries,” he said.
farmers and workers have been hurt, with companies moving abroad to
Mexico and Canada. “Now we’re going to fix that situation. And if it’s
not fixed, we’re not going to deal with these countries,” he said.
He warned his allies he would fight back with tariffs if trading relationships didn’t change.
“There is no reason we should have large trade deficits with virtually every country of the world,” Mr. Trump said.
The
G-7 has never been a tariff-free bloc. Member countries trade among one
another under various agreements. The Trump administration recently
imposed tariffs on steel and aluminum from the European Union, Canada
and Mexico, a move followed last week by reciprocal tariff announcements
on a broad range of U.S. products.
G-7 has never been a tariff-free bloc. Member countries trade among one
another under various agreements. The Trump administration recently
imposed tariffs on steel and aluminum from the European Union, Canada
and Mexico, a move followed last week by reciprocal tariff announcements
on a broad range of U.S. products.
As he was
leaving the summit he said the other nations in the bloc “were going to
go back to the drawing board and figure it out.” Representatives from
the other G-7 countries weren’t immediately available to comment on Mr.
Trump’s remarks.
leaving the summit he said the other nations in the bloc “were going to
go back to the drawing board and figure it out.” Representatives from
the other G-7 countries weren’t immediately available to comment on Mr.
Trump’s remarks.
The U.S. president also
reiterated his belief that Russia should be allowed back into the group
of industrial nations for the sake of world peace, a position that
earlier received lukewarm reception from some other members and was
rejected outright by Canada.
reiterated his belief that Russia should be allowed back into the group
of industrial nations for the sake of world peace, a position that
earlier received lukewarm reception from some other members and was
rejected outright by Canada.
Mr. Trump’s
dismissal of tensions among the G-7 run counter to the strong
disagreement among the leaders at an afternoon session on the economy
and trade Friday, that saw Mr. Trump pitted against the six other countries, according to a person familiar with the deliberations.
dismissal of tensions among the G-7 run counter to the strong
disagreement among the leaders at an afternoon session on the economy
and trade Friday, that saw Mr. Trump pitted against the six other countries, according to a person familiar with the deliberations.
The topic of Russia rejoining the G-7 came up at a working dinner Friday
between the leaders, the official said, where Mr. Trump repeated his
wish to have Russian President Vladimir Putin back at the G-7 table.
Russia was expelled from the group four years ago after its annexation
of Crimea. The other leaders didn’t support the idea of reinstatement,
the official said.
between the leaders, the official said, where Mr. Trump repeated his
wish to have Russian President Vladimir Putin back at the G-7 table.
Russia was expelled from the group four years ago after its annexation
of Crimea. The other leaders didn’t support the idea of reinstatement,
the official said.
There were also sharp words exchanged with French President Emmanuel Macron ahead of the summit, with Mr. Macron saying at a Thursday
news conference in Ottawa with Canadian Prime Minister Justin Trudeau
that the U.S.’s metals tariffs against the EU and Canada are pushing the
six remaining nations of the G-7 to become a force of their own.
news conference in Ottawa with Canadian Prime Minister Justin Trudeau
that the U.S.’s metals tariffs against the EU and Canada are pushing the
six remaining nations of the G-7 to become a force of their own.
Mr.
Trump fired back with a message on Twitter that said, “Please tell
Prime Minister Trudeau and President Macron that they are charging the
U.S. massive tariffs and create non-monetary barriers.”
Trump fired back with a message on Twitter that said, “Please tell
Prime Minister Trudeau and President Macron that they are charging the
U.S. massive tariffs and create non-monetary barriers.”
One
official said the members did, however, find common ground on the
desire to denuclearize North Korea. Leaders expressed full support for
seeking complete, irreversible, verifiable denuclearization, the
official said.
official said the members did, however, find common ground on the
desire to denuclearize North Korea. Leaders expressed full support for
seeking complete, irreversible, verifiable denuclearization, the
official said.
Mr. Trump arrived 17 minutes late for a working breakfast on gender equality Saturday
morning, raising eyebrows among some participants. He had planned to
leave the summit early, ahead of meetings on climate change and coastal
communities.
morning, raising eyebrows among some participants. He had planned to
leave the summit early, ahead of meetings on climate change and coastal
communities.
Source: Dow Jones
