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Tariffs and Trump

Tariffs and Trump

The verbal war before G7

On the eve of the meeting, the leaders of France and Canada entered into a dispute with US President Donald Trump in the key program of the Summit - trade tariffs.
Trump is expected to be the last one to arrive and the first to leave, has introduced tariffs for steel and aluminum, which have caused repression by trading partners.
But countries may also face problems in discussing Iran's nuclear issue and climate change.
The G7 summit, which unites Canada, the United States, Great Britain, France, Italy, Japan and Germany, starts on Friday July 8 in La Malbecue, Quebec.
Leaders of countries, which account for more than 60% of world capital, meet annually. The economy ranks first on the agenda, although the meetings are now always branched to cover major global issues.
What discussions were held on the eve of the Summit?
These were basically replicas of France and Canada against Donald Trump.
Despite the fact that everything was good-natured between the US president and his French counterpart Emmanuel Macron, the latter was not shy in expressions.
On Twitter, Macron wrote that if Trump wanted to be isolated, six other countries would sign their own agreement, if necessary, "because these six countries represent values, they are an economic market that has its own history and is now a real international force ".
Leader of the host party, Justin Trudeau, also addressed good-naturedly to Trump, but recently he was much more confrontational, especially with the delay in negotiations on the North American Free Trade Agreement (Nafta).
He said that Trump refers to national security in order to defend his tariffs on steel and aluminum.
Never a retreating Trump removed the evocative tweets, accusing Trudeau of being "outraged", and the European Union and Canada have for many years established "massive trade tariffs and non-monetary trade barriers against the US."
"Remove your tariffs and barriers, or we'll match you even more," he wrote.

British Prime Minister Therese May seems to have taken a more conciliatory approach, saying he wants the EU to act with restraint and in proportion to the US tariffs.

What else can we expect in Quebec?
Trump, apparently, will be the last one to arrive. The White House said that he would fly early, on Saturday morning, to go to Singapore for his landmark Summit with North Korean leader Kim Jong-hsing. Thus, he will not attend the entire Summit to discuss all the topics put forward by Trudeau.

The main topics for the summit this year are: - Inclusive economic growth - Gender equality and women's empowerment - Peace and security throughout the world - Future work - Climate change and the oceans
According to the leaders' program, Trump will be present during the discussion of economic and security issues discussed on Friday, but will miss gender equality and climate change on Saturday.
The US president reacted very oddly when discussing the topic of climate change during the G7 in Italy last year, later announcing his intention to withdraw from the historic Paris agreement.
Just recently, Trump refused the agreement of 2015 with Tehran, aimed at limiting its nuclear program. This angered other signatories, who have since striven to strengthen it.
G7 - without protests will not cost
Usually it does not do. About 400 demonstrators held a protest rally on Thursday night in Quebec, burning flags of the US and other G7 countries.
The protesters are focused on globalization, the world's integrated free trade, which, according to supporters, has brought more jobs, higher wages and lower prices, but, according to opponents, they have harmed communities and overwhelmingly preferred the rich.
It is expected that during the event in Quebec there will be about 8,000 soldiers and policemen.
What are the US tariffs and what was the reaction?
Trump voiced plans for foreign steel and aluminum tariffs in March, justifying them with considerations of national security.
On May 31, the US imposed a 25% tax on steel and a 10% tax on aluminum from the EU, Mexico and Canada.
Trump argued that the global excess supply of steel and aluminum threatened US producers, which are vital to the US economy, although his move proved controversial even in the US.
The affected countries are indignant. The EU called this step "protectionism, clean and simple."
A number of responses were adopted. Canada is aimed at steel, yogurt and whiskey; Bourbon EU, cranberry, jeans and motorcycles; Mexican pork, steel, apples, grapes, blueberries and cheese.

08.06.2018 10:24:32
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