Published: Mon, June 11, 2018
Finance | By Loren Pratt

Trump pulls out of joint G7 statement, calls Trudeau "weak"

Trump pulls out of joint G7 statement, calls Trudeau

Nearly 18 months into Trump's presidency, Merkel's comments offered renewed evidence of Germany's struggle to adapt to an upended relationship with the US.

Insulting the host, alienating allies and threatening to suspend business with other countries: U.S. President Donald Trump was in full trade-warrior form for the weekend summit of the Group of Seven wealthy democracies in Canada.

"I have made it very clear to the President that it is not something we relish doing, but it something that we absolutely will do", Mr. Trudeau said.

Mr Kudlow accused the Canadian PM of betraying Mr Trump with "polarising" statements on trade policy that risked making the United States leader look weak ahead of a historic summit with North Korean leader Kim Jong-un.

Kudlow, in an interview with CNN, argued that Trudeau's press conference criticisms of Trump's trade tariffs were inappropriate because of Trump's upcoming meeting with Kim Jong Un, and because they represented a shift from the more cooperative work that had been done to form the communique from the seven nations. $800 Billion Trade Deficit. That means Trump "is right to a certain extent" when he criticizes Germany for spending only 1.3% of economic output on defence, Merkel said.

Trade adviser Peter Navarro told "Fox News Sunday" that "there is a special place in hell for any leader that engages in bad faith diplomacy" with Trump.

But unity was torn apart when the USA president took exception to Mr Trudeau calling U.S. policy "insulting". He had other things, bigger things, on his plate in Singapore. He did him a favor and he was even willing to sign that socialist communique. "That will not stand", he noted.

Another stumbling block was the part regarding climate change, where the USA didn't want to see any reference to the Paris Agreement, from which the Trump administration has withdrawn, The Star reported.

"In a matter of seconds, you can destroy trust with 280 Twitter characters", German Foreign Minister Heiko Maas said when asked about Mr Trump's U-turn, adding it would take much longer to rebuild lost trust. "We have seen this with the climate agreement or the Iran deal".

President Donald Trump told French President Emmanuel Macron that the European Union is worse than China on trade during a conversation that portended the tense end to this year's G7 summit.

In London, Mayor Sadiq Khan said he hopes Trump will reconsider policies such as the recent increase in tariffs on steel and aluminum from Europe, China, Mexico, Canada and elsewhere. "That Canada could be considered a national security threat to the United States is inconceivable".

"If they retaliate, they're making a mistake", Trump said.

But Trump, who announced USA plans to withdraw from the Paris agreement in June 2017, backed out of the communique which reiterates the agreements reached by all parties at the summit's conclusion. He can use that to justify protectionist measures he takes later.

Under his administration, the world's largest economy has undermined the multilateral orders it created and given up its leading role in the G7 as promoter of free and fair global trade based on World Trade Organization rules, economists say. "Well, I think that very quickly I'll know whether or not something good is going to happen".

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