Trump turns tables on G7 allies with free trade `proclamation'

Berenberg's Schmieding Says America First Means America Alone

Berenberg's Schmieding Says America First Means America Alone

Trudeau refused and NAFTA talks stalled.

Trump's call for the elimination of trade barriers come amid fears of an all-out trade war after the USA moved ahead with a 25 percent import tax on steel and a 10 percent on aluminum on most countries.

She said: "I have always said we should engage with Russian Federation, but my phrase is "engage, but beware".

"We're not looking to play games", he said.

"Now, if we're unable to make a deal, we'll terminate NAFTA", Trump told reporters.

Trump tweeted Friday. "Canada charges the us a 270% tariff on Dairy Products!"

Earlier in Ottawa on Thursday, Trudeau offered Trump some qualified kudos on his North Korea peace efforts, along with Macron and Japanese Prime Minister Shinzō Abe. He says: "That's the way it should be".

Trudeau on Saturday rejected a US demand for a sunset clause in NAFTA but said he was prepared to compromise on the issue, which is holding up talks to update the 1990s-era pact.

During a press conference following the G7 summit, President Donald Trump once again rebuked his predecessors for foreign trade agreements and also denied multiple reports that the White House was met with a chilly reception at the meeting due to its isolationist policies.

Trump is telling reporters that he told world leaders that the USA will take whatever steps necessary to prevent unfair foreign trade practices.

Meanwhile, the European Union - the world's largest trading bloc - announced last week it would impose retaliatory tariffs on the USA beginning in July, over Washington's duties on steel and aluminum imports from Europe.

On Saturday, Trump blamed former President Barack Obama for Russia's aggression toward its neighbor.

But the French leader quickly added that Trump can't expect credibility on that file while he undoes all the good work done to date on pushing Iran to abandon its pursuit of nuclear weapons.

Speaking to reporters at the annual G-7 meeting, the president said that totally eliminating trade barriers between the nations would be "the ultimate thing" and "that's the way it should be".

Trump is scheduled to address the USA news media at 10 a.m. EDT on Saturday.

Morneau said he is engaged in intense talks with his USA counterparts in the hopes of finding a way forward.

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. And he departed Charlevoix on Saturday morning - hours earlier than initially scheduled - to travel to Singapore ahead of his planned summit with North Korean leader Kim Jong Un. In private conversations with leaders from France, Canada, the United Kingdom, and Japan Friday, Trump countered complaints about US trade policy with detailed lists of what he described as unfair trade practices and failures to meet security commitments, according to a person briefed on the matter.

The summit host, Canadian Prime Minister Justin Trudeau, kicked things off without waiting for those he described as "stragglers" to arrive.

The decision to issue a separate declaration on oceans came at the very last minute, as Trudeau was addressing media. He says gender equality must "cut through" everything the G-7 does.

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