Thursday, 22 November, 2018


Trump calls for Russian Federation to be readmitted to G7

Trump calls for Russian Federation to be readmitted to G7 Trump calls for Russian Federation to be readmitted to G7
Bennie Garza | 09 June, 2018, 01:17

The summit comes as the U.S.is clashing with Canada and other big trading partners over tariffs. The point isn't that each of those deals were flawless, but to Trump they were disastrous primarily because they involved the United States joining with other countries in the hopes that everyone could emerge better off.

It is obvious that Putin is getting exactly what he wanted from a Trump presidency.

Although Mr. Trump says the tariffs are necessary to protect US industry, Canada and the European Union have denounced them as illegal and are preparing retaliatory measures.

He warned it is "evident" that Mr Trump and the rest of the G7 were at loggerheads over trade, climate change and the Iran nuclear deal.

Tusk expressed broader concern about Trump's opposition to the global rules-based order, because it "is being challenged, quite surprisingly, not by the usual suspects but by its main architect and guarantor, the U.S". Supply management has been an issue in every major trade worldwide negotiation going back decades, forcing Canada to play defence instead of aggressively pursuing new export opportunities, particularly in agriculture.

His efforts have generated opposition all over the world, from both rivals such as China and allies like Canada and Germany.

Earlier Thursday, French President Emmanuel Macron and Canadian Prime Minister Justin Trudeau lashed out at Trump for imposing tariffs on their steel and aluminium industries.

Throughout the escalation in rhetoric, Trudeau slammed Trump's tariffs in several media appearances, calling the decision "totally unacceptable" and "insulting".

"When we can underscore and we see there's a lot of pressure with the United States, perhaps he will revise his position".

Hardball tactics have worked in the past. And in Asia, why do you enact policies that seem intended simply to erode US leadership, and make China - not America - great again? Given all the mischief Vladimir Putin creates, it can be easy to forget that Russian Federation is only the 12th-largest economy in the world, about 1/14th the size of ours. "That's where some really big, rapidly growing markets are, and the U.S.is just not quite as important as it was before", he says.

Many countries also remain suspicious of the way the USA seems to have done an about-face on trade policy, appearing to abandon its long-standing support for free and open markets, says Simon Johnson, professor of entrepreneurship at the Sloan School of Management at the Massachusetts Institute of Technology.

The U.S. has long spread the gospel of markets all over the word, arguing that free trade benefits all countries.

Asked about the state of US-Canada relations, National Economic Council Director Larry Kudlow acknowledged some short-term tensions, but said he believes relations between the two countries remain "very good".

"I agree with the Presiden @realDonaldTrump: Russia should go back into the G-8. To what end? What exactly is he going to get from that?"

Irwin says USA trading partners are "drawing a line in the sand early on, saying, 'Look, this is an inappropriate way of approaching things".

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