Published: Sun, June 10, 2018
Finance | By Kristine Clayton

Trump decides to leave G7 meeting in Quebec early after trade dispute

Trump decides to leave G7 meeting in Quebec early after trade dispute

If they dont back down and Trump does try to stop - or at least slow - the flow of trade, it could impact the flow of hundreds of billions of dollars in goods, potentially impacting millions of jobs in the USA and around the world. On Friday, Mr Trump made a surprise call for Moscow to be readmitted, but German Chancellor Angela Merkel said other members were against the idea.

However, the President of the European Council on Friday rejected a call by Trump and Conte on the first day of the annual summit.

Speaking about Russia's military incursion in Crimea, a peninsula that was part of Ukraine, Trump on Saturday blamed President Obama for the annexation.

Fellow members of what was then the G8 suspended Russian Federation after it took control of Crimea from Ukraine.

The president said the USA was "pretty close" to reaching an agreement on the North American Free Trade Agreement with Canada and Mexico and had discussed two types of sunset provisions in which any of the countries could leave the deal.

Trump repeated the call on Saturday, saying "we're looking for peace in the world".

Later, Trump will fly to Singapore where he is set to meet with North Korean leader Kim Jong Un on June 12.

Trump seems more fond of sparring with reporters when he can share the stage with a foreign counterpart, as he did this past week at the White House after meeting with Japanese Prime Minister Shinzo Abe, who had stopped in Washington to consult with Trump before the G-7 and the upcoming Kim summit.

President Donald Trump says re-admitting Russian Federation to a club of industrialized nations would be good for all countries. Prime Minister Justin Trudeau did not wait for the USA president to kick off the meeting in La Malbaie, Quebec.

Trump criticized the premise of the question, which came from CNN during a G-7 news conference.

"For us, it was important that we have a commitment for a rule-based trade order, that we continue to fight against protectionism and that we want to reform the WTO", Merkel said.

Trump, who railed against globalization in his election campaign, said he wanted all G7 nations to remove any tariffs, subsidies and other trade barriers.

"The relationships were outstanding, but because of the fact that USA leaders of the past didn't do a good job on trade-and, again, I'm not blaming countries, I'm blaming our people that represented our past-it's gonna change", Trump said.

The US has slapped a 25% tariff on imports of steel and 10% on aluminium from countries including the United Kingdom and the rest of the European Union.

Trump was last to arrive for the G7 working breakfast, walking into the room when the summit's host, Canadian Prime Minister Justin Trudeau, had almost finished his welcome and presentation speech, Efe reported. There is nothing they can say.

The leaders of the G7 on Saturday (Jun 9) failed to heal a tariff dispute that has pushed them to the brink of trade war, as Donald Trump quit their summit early and warned Canada, Japan and Europe that "the gig is up".

But details are scant so far, and clear differences are remaining.

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