The Trump administration imposed aluminum and steel tariffs on the other G-7 members – the United Kingdom, Germany, Italy, France, Canada and Japan – ratcheting up tensions between the US and its allies in the run-up to the summit.
Peter Navarro, President Trump’s top trade adviser, went on Fox News Sunday yesterday and declared there’s a “special place in hell” for leaders like Trudeau.
And in Ottawa on Monday, International Trade Minister Francois-Philippe Champagne urged lawmakers to speed ratification of the Trans-Pacific Partnership that might offset losses in USA trade by binding Canada closer to Asia, Australia and Latin America.
Before flying to Singapore, Mr. Trump was in Canada for the G-7 summit with leaders from Canada, France, Germany, Italy, Japan and the U.K. All seven leaders had worked out a joint statement stressing the importance of a rules-based global trading system.
Trump’s tirades came on Saturday after a tense G7 summit in Quebec, where Trudeau at a summit-ending news conference criticized the president’s tariff threats.
“He was talking about the US tariffs”, CBS host Margaret Brennan said.
Ries says that strong stance could help more Americans realize they don’t want a trade war with Canada. Minimum is 17B. Tax Dairy from us at 270%.
The Canadian tariffs target $264 million in Minnesota products headed to Canada, adding $35 million to the cost of exports. “Number one, he’s not going to allow the people to suddenly take potshots at him hours before that summit, and number two, Trudeau should’ve known better”.
“Canada does not believe that ad hominem attacks are a particularly appropriate or useful way to conduct our relations with other countries”, said Canadian foreign affairs minister Chrystia Freeland, according to the Toronto Star.
Responding to the prime minister, Labour leader Jeremy Corbyn branded the G7 summit a “failure” as he piled the blame on the United States president.
“This is a small-minded man not fit for public office”.
Doug Porter, chief economist at the Bank of Montreal, said he couldn’t recall Canada-U.
David Akin wonders if Canada and its G7 allies can trust the U.S.?
“Germany pays 1 percent (slowly) of GDP towards North Atlantic Treaty Organisation, while we pay 4 percent of a MUCH larger GDP”, he wrote, saying that the U.S. was protecting Europe and being “clobbered on trade” in return.
Behind his claim lies a difference in how the countries’ calculate the trade figures.
As expected, these countries are now retaliating with tariffs of their own that will hurt US farmers, manufacturers and blue-collar workers, the same people who voted for Trump.
“So at this summit, we expressed deep disappointment at the unjustified decision of the United States to apply tariffs to steel and aluminium imports. That’s clearly what was the frustration, but no, I think that the Judgement Day that separates us from Heaven and Hell is not dependent on whether you agree with the President”.
June 11 – On Monday morning Singapore time, Trump takes to Twitter yet again to accuse Canada of “bragging” about a trade surplus with the U.S. – “Then Justin acts hurt when called out!”
“According to a Canada release, they make nearly 100 Billion Dollars in Trade with United States (guess they were bragging and got caught!)”.
Canada has essentially outsourced the management of its milk industry to industry-run provincial marketing boards, which, critics said, operate as cartels, setting some milk prices artificially high.