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Money 'Fair trade, fool trade', Trump vents anger on NATO allies, EU, Trudeau post-G7

15:01  11 june  2018
15:01  11 june  2018 Source:   reuters.com

Trump has officially put more tariffs on U.S. allies than on China

  Trump has officially put more tariffs on U.S. allies than on China Most experts and lawmakers agree that China doesn't play fairly and needs to be punished, and even many Republicans have panned Trump's misplaced targets.President Trump campaigned on going hard after China for ripping off the United States on trade. Yet a year and a half into his presidency, Trump has put more tariffs on longtime U.S. allies than he has on China, his supposed "bad guy" on trade. The Trump administration announced new tariffs Thursday on the European Union, Canada and Mexico.

SINGAPORE (Reuters) - U.S. President Donald Trump fired off a volley of tweets on Monday venting anger on NATO allies , the European Union and Canadian Prime Minister Justin Trudeau in the wake of a divisive G 7 meeting over the weekend.

By Matt Spetalnick. SINGAPORE (Reuters) - U.S. President Donald Trump fired off a volley of tweets on Monday venting anger on NATO allies , the European Union and Canadian Prime Minister Justin Trudeau in the wake of a divisive G 7 meeting over the weekend.

a group of people posing for the camera: German Chancellor Merkel speaks to U.S. President Trump during the second day of the G7 meeting in Charlevoix city of La Malbaie, Quebec © REUTERS German Chancellor Merkel speaks to U.S. President Trump during the second day of the G7 meeting in Charlevoix city of La Malbaie, Quebec

U.S. President Donald Trump fired off a volley of tweets on Monday venting anger on NATO allies, the European Union and Canadian Prime Minister Justin Trudeau in the wake of a divisive G7 meeting over the weekend.

Having left the Group of Seven summit in Canada early, Trump's announcement that he was backing out of the joint communique torpedoed what appeared to be a fragile consensus on the trade dispute between Washington and its top allies.

"Fair trade is now to be called fool trade if it is not reciprocal," said Trump, who flew from Canada to Singapore for a meeting with North Korean leader Kim Jong Un.

China warns US trade deals are off if tariffs go ahead

  China warns US trade deals are off if tariffs go ahead The US has threatened to impose tariffs on Chinese products in a dispute over Beijing’s aggressive tactics to challenge US technological dominance. Trump has asked US trade representative Robert Lighthizer to look for another 100 billion dollars in Chinese products to tax.China has targeted 50 billion dollars in US products in retaliation.“If the United States introduces trade sanctions including a tariff increase, all the economic and trade achievements negotiated by the two parties will not take effect,” said a Chinese government statement, carried by the official Xinhua News Agency.

SINGAPORE (Reuters) - President Donald Trump fired off a volley of tweets on Monday venting anger on NATO allies , the European Union and Canadian Prime Minister Justin Trudeau in the wake of a divisive G 7 meeting over the weekend.

tweets sent from Air Force One announcing he had ordered his officials not to sign a joint statement underlining the G 7 ’s commitment to “free, fair , and mutually beneficial trade ”. Mr Trump said in his tweets that Justin Trudeau was “dishonest” to blame for the breakdown over tariffs. Post navigation.

"Sorry, we cannot let our friends, or enemies, take advantage of us on trade anymore. We must put the American worker first!"

The communique, which had appeared to have papered over the cracks that surfaced so uncharacteristically at the G7, said the leaders of the United States, Canada, Britain, France, Italy, Germany and Japan were agreed on the need for "free, fair, and mutually beneficial trade" and the importance of fighting protectionism.

"We strive to reduce tariff barriers, non-tariff barriers and subsidies," the statement said, which came despite Washington appearing intent on taking more punitive steps on trade.

It is unclear if Trump's focus on getting tough with trade partners, and solving the North Korean nuclear issue will have some influence on voters in the mid-term congressionsal elections in November.

Trump leaves G7 early for 'mission of peace' with Kim

  Trump leaves G7 early for 'mission of peace' with Kim Donald Trump declared that he was on a "mission of peace" before leaving the G7 summit early to meet Kim Jong Un in Singapore. He told reporters he would "know within a minute" whether Mr Kim was serious about giving up his nuclear weapons, adding that he would not prolong talks if he sensed otherwise.The US leader boarded a plane from Quebec on Saturday ahead of the highly anticipated meeting with the North Korean leader on Tuesday, leaving G7 leaders early and missing environmental talks.

European leaders warned Trump ´s stance on trade , climate, Iran and -- now -- Russia was We´ll see how it all works out, but we´ve made a lot of progress," Trump said, sitting by Trudeau after Ahead of the encounter, the allies made no secret of their anger at Trump ´s stance, pointed starkly

Canada and its Western allies oppose the adventurism of Russian President Vladimir Putin over the The men hinted at no undeniable hard emotions on Friday, even though they had traded extreme In railing against Canadian exchange arrangements, Trump blamed Trudeau for being “angry” on Twitter.

a man wearing a suit and tie walking towards a plane: U.S. President Donald Trump departs from the G7 summit in the Charlevoix city of La Malbaie © REUTERS/Jonathan Ernst U.S. President Donald Trump departs from the G7 summit in the Charlevoix city of La Malbaie While foreign policy issues like North Korea don't usually have much bearing on the polls, Trump's extraordinary outburst on Monday against NATO allies, the European Union and Canada appeared aimed at striking chord with voters who support his "America First" agenda.

"Not fair to the people of America! $800 billion trade deficit," he said. "Why should I, as president of the United State, allow countries to continue to make massive trade surpluses, as they have for decades, while our farmers, workers & taxpayers have such a big and unfair price to pay?"

The White House did not immediately respond to a request for comment on why Trump had focused his tweets on Canada and the EU over trade disputes and on NATO partners over defense costs and not on his talks with Kim set for Tuesday.

Britain stands by its commitments after ‘difficult’ G7 summit, says May

  Britain stands by its commitments after ‘difficult’ G7 summit, says May The Prime Minister defended the rules-based international order thrown into doubt by Donald Trump’s tweets.In a statement to the House of Commons, Mrs May made clear that the UK intends to honour the commitments it signed up to at the meeting in Canada, even after the US president dramatically repudiated them in an end-of-summit tweet.

‘Fits of anger ’ cannot dictate international cooperation, says Macron. After Trump ’s angry tweets, Trudeau ’s office issued a brief response: “We are focused on everything we accomplished here at the G 7 summit. “To our allies : bipartisan majorities of Americans remain pro-free trade

Trump vents anger at allies after G 7 fiasco. US President Donald Trump issued a volley of tweets on Monday venting anger on some of Washington’s closest Nato allies over the United State’s trade deficit, following Trump aides accused Trudeau of betrayal of Trump for his statement on retaliation.

Watch: US accuses Canada of 'backstabbing' after G7 (Dailymotion)

Asked whether allies had any reason to worry about Trump’s commitment to any deal he reaches with North Korea following his abrupt withdrawal from the G7 communique, one U.S. official appeared to brush aside the notion, saying other countries have got used to how the president operates internationally.

"LONG SHADOW"

The prospect that Trump could be moving toward an even greater protectionist trade policy is likely to chill financial markets worried about tit-for-tit escalation that could lead to a full-blown global trade war.

"Business confidence, and subsequently capital spending, is at risk if this tension continues through the summer," said Tai Hui, J.P. Morgan Asset Management Chief Market Strategist for Asia Pacific. "This could cast a long shadow over global growth, which has rebounded in recent weeks after a soft start to the year."

Larry Kudlow, Trump's chief economic adviser, suffers heart attack

  Larry Kudlow, Trump's chief economic adviser, suffers heart attack The 70-year-old economist joined the White House in April from CNBC, where he was a pro-Trump commentator.The news came in a tweet from Trump. "Our Great Larry Kudlow, who has been working so hard on trade and the economy, has just suffered a heart attack. He is now in Walter Reed Medical Center," Trump said.

Trump , who angered his G 7 partners last week with tariffs on steel and aluminum imports from Canada, the European EARLY EXIT Still, the United States and EU will establish a dialogue on trade within the next two weeks, signaling a modest step forward for the bitterly divided allies of the G 7 .

The U.S. president angered his G 7 allies last week by imposing punishing tariffs on aluminum and steel imports. Canada's Prime Minister Justin Trudeau Mr. Seko noted that Japan and the EU had issued a statement critical of the USA after he and EU Trade Commissioner Cecillia Malmström met

Nevertheless, markets were relatively calm on Monday ahead of the European open, although the Canadian dollar slipped a little in early trade.

Trump also lambasted fellow members of the North Atlantic Treaty Organisation (NATO) for paying disproportionately less than the United States to maintain the Western alliance.

"The U.S. pays close to the entire cost of NATO - protecting many of these same countries that rip us off on trade (they pay only a fraction of the cost - and laugh!)," he tweeted. "The European Union had a $151 billion surplus - should pay much more for military!"

"Germany pays 1 percent (slowly) of GDP towards NATO, while we pay 4 percent of a much larger GDP. Does anybody believe that makes sense?"

"We protect Europe (which is good) at great financial loss, and then get unfairly clobbered on trade. Change is coming!"

By ordering his representatives to back out of the communique, Trump appeared to be asserting his oft-stated aim of upsetting the status quo, whether by pulling out of the global climate accord or the international nuclear deal with Iran or threats to scrap the 1994 North American Free Trade Agreement between the United States, Canada and Mexico.

On Monday, Trump also renewed attacks on Canadian Prime Minister Justin Trudeau, who had hosted the G7 meeting in Quebec.

The sharp contrast between Trump’s thumbs-up to a dictator and his snub of a US ally

  The sharp contrast between Trump’s thumbs-up to a dictator and his snub of a US ally Today Donald Trump shook hands with Kim Jong Un at the US-North Korea summit in Singapore. The images of Trump glad-handing with Kim—and even giving… © Provided by Quartz U.S. President Donald Trump meets with Canada’'s Prime Minister Justin Trudeau in a bilateral meeting at the G7 Summit in in Charlevoix, Quebec, Canada, June 8, 2018. In one image, the US president looks glum seated next to Canadian prime minister Justin Trudeau. He’s looking away, with his hands between his legs, as Trudeau extends a hand.

Summit host Canada’s Prime Minister Justin Trudeau sided with his European and Japanese colleagues Apparently revelling in a rift that threatens to spiral into a trade war, Trump stirred the pot by Ahead of the encounter, the allies made no secret of their anger at Trump ’s stance, pointed

Trump trades easy banter with allies but differences persist. Modi says meeting with Xi will add We'll see how it all works out, but we've made a lot of progress," Trump said, sitting by Trudeau after Ahead of the encounter, the allies made no secret of their anger at Trump 's stance, pointed starkly to

"Justin acts hurt when called out!" the U.S. president said in his latest Tweet. On Saturday, he called the Canadian prime minister "very dishonest and weak."

PLACE IN HEAVEN

White House economic adviser Larry Kudlow accused Trudeau of betraying Trump with "polarizing" statements on trade policy that risked making the U.S. leader look weak ahead of the historic summit with Kim.

"(Trudeau) really kind of stabbed us in the back," Kudlow, the director of the National Economic Council who had accompanied Trump to Canada, said on CNN's "State of the Union."

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.

Trudeau, in Quebec City for bilateral meetings with non-G7 leaders after the summit, did not comment as he arrived.

But he got direct personal support from some European leaders.

British Prime Minister Theresa May "is fully supportive" of Trudeau and his leadership, a senior UK government source said, while European Council President Donald Tusk tweeted: "There is a special place in heaven for @JustinTrudeau."

(Additional reporting by David Brunnstrom and Vidya Ranganathan in Singapore; Marius Zaharia in Hong Kong; Writing by Simon Cameron-Moore, Editing by Raju Gopalakrishnan)

Why Donald Trump has it in for Angela Merkel .
In the midst of an escalating trade war with China and fresh from a nuclear summit with North Korea, Donald Trump took time out to attack Angela Merkel. In the midst of an escalating trade war with China and fresh from a nuclear summit with North Korea, Donald Trump took time out to attack Angela Merkel. “The people of Germany are turning against their leadership,” tweeted the US president, adding that “migration is rocking the already tenuous Berlin coalition”.

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