Trudeau: G7 summit successful but global trade differences remain

May will try to persuade Donald Trump to reverse his steel and aluminium tariffs

GETTYMrs May will try to persuade Donald Trump to reverse his steel and aluminium tariffs

"Canadians are polite and reasonable but we will not be pushed around", Trudeau told reporters on Saturday.

Trump planned to leave the summit before it ends on Saturday to head to Singapore for the next meeting on his schedule - a high-stakes summit with North Korean leader Kim Jong Un.

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

Trump's comments on agriculture, his imposition of steel and aluminum tariffs, as well as broader disagreements on trade, climate change and the USA withdrawal from the Iran nuclear agreement, are setting the stage for some tense G7 talks.

"What worries me most however is the fact that the rules-based global order is being challenged, quite surprisingly not by the usual suspects but by its main architect and guarantor: the U.S.", he said.

Republican Sen. Ben Sasse of Nebraska said Trump's comments on eliminating tariffs among G7 nations would be "tremendous news" if the President is serious about the issue, adding, "I would happily carry his bag to every single meeting of those negotiations".

Canada's Prime Minister Justin Trudeau meets with U.S. President Donald Trump at the G7 leaders summit in La Malbaie, Que., on Friday, June 8, 2018.

Trump withdrew the United States from the Paris climate accord and his attendance of a G7 session on the issue was in question well into the last minute.

Speaking before leaving the G-7 summit in Quebec, Trump said one of the countries is agreeable to it while the other is more concerned about the impact a sunset clause would have on long-term investment.

Trump, who repeated that his tariffs are meant to protect USA industry and workers from unfair worldwide competition, said he had suggested to the other G7 leaders that all trade barriers, including tariffs and subsidies, be eliminated. It was kicked out of the G8 in 2014 for annexing Crimea from Ukraine.

Welbeck: United's Rashford benefiting from free role with England
However, it was another youngster in Rashford, 20, who caught the eye from the off. By taking risks they show the glimpses of quality like Marcus's opening goal.

Elliott's Singer agrees with Buffett, Dimon on profit guidance
Business Roundtable said it supports companies moving away from offering quarterly guidance and focusing on long-term goals. Morgan chief executive Jamie Dimon appeared on CNBC on Thursday to discuss why he doesn't think tariffs are the way to go.

Vienna to Host Possible Meeting Between Putin and Trump
This is Putin's first live televised show since he was re-elected in March for a term of office that runs until 2024. One of the show's hosts responded, "They got what they deserved". " Let's ask him.

Merkel said there was a broad agreement among G7 leaders that tariffs and other trade barriers should be reduced. Trump said Friday he thinks the group will produce a joint statement.

The communique 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.

"I don't blame other leaders for that", Trump said.

"We're either going to have NAFTA in a better negotiated form or we're going to have two deals", the USA president said.

Trump's presidency has been clouded by a federal investigation into alleged Russian meddling in the 2016 presidential election, and possible collusion by his campaign.

He engaged in a bitter war-of-words with Trudeau and French President Emmanuel Macron on Thursday, a day before the summit began.

Still, a French official said on Friday the United States and European Union would establish a dialogue on trade within the next two weeks, signalling a modest step forward for the bitterly divided allies of the G7. He called many current tariffs on US goods and services "ridiculous".

"We're either going to have NAFTA in a better negotiated form or we're going to have two deals", the USA president said.

In March, Trump first announced the imposition of tariffs on imports of steel and aluminum, but he gave Canada, Mexico and the European Union a waiver.

Latest News