Trump issues warning to trade partners over retaliatory tariffs

Trump to leave G7 summit early amid feud with Trudeau, Macron

"It's never been done, It's never been tested".

The EU said it will impose the "rebalancing" tariffs on about $3.3 billion (2.8 billion euros) worth of USA steel, bourbon, agricultural products including sweet corn, orange juice, cranberries and certain clothing made of cotton.

The two leaders are set to meet on Tuesday morning at the Capella Hotel on the Singaporean resort island of Sentosa.

"Now, if we're unable to make a deal, we'll terminate NAFTA", Trump told reporters. "But the relationships are very good", he said.

Trump's counterparts in the G7 have been scrambling this week to try to find some semblance of consensus with Washington on trade and the other key issues that have formed the basis of the 42-year-old organization.

Mr Trump is expected to leave the summit early and travel to Singapore ahead of a meeting there with the North Korean leader Kim Jong-un on Tuesday.

He said the USA required fair access to markets and an end to unfair trade practices, telling reporters the "United States has been taken advantage of for decades and decades".

And more: "Looking forward to straightening out unfair Trade Deals with the G-7 countries".

Before jumping on Air Force One to fly to Canada, which is hosting the summit in La Malbaie north of Quebec City, Trump called for a return to the body's pre-2014 "G8" formula.

"I have made it very clear to the President that it is not something we relish doing, but it is something that we absolutely will do", Trudeau said.




I think it would be good the United States.

"In short, a long, frank rant which is undoubtedly very unusual in this kind of formats", the official added.

On Saturday, President Donald Trump yet again responded to Canadian Prime Minister Justin Trudeau using his favorite platform: Twitter. The EU trade surplus with the U.S.is $151 Billion, and Canada keeps our farmers and others out.

Canada last week announced retaliatory tariffs on C$16.6 billion ($12.8 billion) worth of US exports and said it will challenge USA steel and aluminum tariffs under the North American Free Trade Agreement and the World Trade Organization.

Trump is issuing a stern warning to foreign countries not to retaliate against U.S. tariffs on the imports of steel and aluminum.

The other G7 leaders will meet without him for the rest of the day, discussing climate change and worldwide development.

President Trump said he expects something will happen on trade, and that it will be positive. They were looking at what appeared to be a draft document marked up with highlighter.

US President Donald Trump's attempt to overthrow or renegotiate a series of worldwide agreements constitutes a threat to the post Cold War order, European Union president Donald Tusk warned on Friday. The Crimea annexation in 2014 resulted in the leading world powers excluding Russian Federation from the club and becoming the G-7 again.

That leaves Trump diametrically opposed with Canada, which says renegotiating the deal every five years would create perpetual uncertainty and harm long-term investment.

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