Trump issues warning to trade partners over retaliatory tariffs

10 June, 2018, 05:11 | Author: Bert Pena
  • Trade War EU to Hit U.S. Motor Bike Jeans Imports with Tariff Retaliation in Weeks			AP  Alan Diaz		7 Jun 2018

Trump's apparent threat to end USA trade deals with top allies came as he feuded with French President Emmanuel Macron, Canadian Prime Minister Justin Trudeau and other leaders over the trade war he instigated late last month.

US President Donald Trump gives a news briefing at the G7 Summit in the Charlevoix city of La Malbaie, Quebec, Canada, June 9, 2018.

Trump's tweets taking aim at the leader of a country that has always been a USA ally came after the president left the G7 summit in Canada to travel to Singapore ahead of a planned diplomatic meeting with North Korean Leader Kim Jong Un. Trump, in a Twitter tirade on Thursday, pointed fingers at Canadian Prime Minister Justin Trudeau and French president Emmanuel Macron, stating that "they are charging the US massive tariffs and create non-monetary barriers".

"The United States has been taken advantage of for decades and decades and we can't do that anymore".

But Trump's outburst suggested that any deal had collapsed, and his more or less explicit threat to impose sanctions on imports of cars will outrage his ostensible allies - in particular Germany and Canada who produce many for the large United States market.

As the leaders of the top industrialised democracies began meeting ahead of the G7 summit in Quebec, European leaders warned that Trump's stance threatens the Western-led world order.

Mr Trump made the comments after the communique had already been officially released in response to a press conference held by Justin Trudeau to mark the close of the summit.

What else did Trump have to say?

Our Tariffs are in response to his of 270% on dairy!'

In retrospect, the consensus had appeared shaky from the outset, and even as Trump flew out it was clear that the summit had failed to heal the rift on trade.

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"We're talking to all countries", he said, denouncing what he said were huge existing tariffs on USA exports around the world.

"And I highlighted it was not helping in our renegotiation of NAFTA and that it would be with regret but it would be with absolute certainty and firmness that we move forward with retaliatory measures on 1 July - applying equivalent tariffs to the ones that the Americans have unjustly applied to us".

The communiqué said the leaders of the United States, Canada, Britain, France, Italy, Germany and Japan agreed on the need for "free, fair, and mutually beneficial trade" and the importance of fighting protectionism.

Vice President Mike Pence told Trudeau he would have to agree to that before Trump would agree to meet him.

Trump had come to Quebec insisting on his long-standing claim that America has been exploited for too long by existing trade arrangements - and he was met by counterparts equally determined to protect the "rules-based" global system.

Trump's reversal, announced while he was en route to Singapore for a meeting with North Korean leader Kim Jong Un, sent his G7 partners scrambling.

Finance Minister Bill Morneau said that message was communicated clearly to Trump during his meetings at the G7 summit with fellow leaders, and in his face-to-face talk with Prime Minister Justin Trudeau.

"If they retaliate they're making a tremendous mistake because you see we have a tremendous trade imbalance", he said.

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