Canada hosts G7 leaders at the end of the week
As the G7 meeting approaches, the trade tariffs are certainly going to be front and center. Trump will be going with guns a blazing. Commerce Secretary Ross reiterated the need for the tariffs in an interview on CNBC today.
Trudeau has been miffed by the US justifying the tariffs on the grounds of national security. Ross today implied that the wording and right did not mean that the US and Canada were enemies but was instead needed to globally enforce the actions.
Trudeau adds:
- Canada will defend industries hit by US tariffs
- Reiterates Canada is not a security threat to the US
- He still expects Trump to attend G7 (he is expected to arrive a little later than most leaders though)
- Disappointment in US leaving Iran deal
- We will obviously have some very robust discussions on trade at G7
- Still positive about forthcoming discussions even though there will be disagreements
Meanwhile France's Macron is also weighing in:
- We cant wage a trade war between "friends", will try with other G7 members to convince Trump to normalize trade relations
- If US decides to withdraw from its global role, it would be bad for US economy and image, and Trump knows that
- Other six nations are bigger than the US alone
Of course Pres. Trump sees the trade relations as not normal but not balanced. Does Trump worry about the "image". Not really. He is focused on one objective. Hence the tariff actions. I don't expect much of a back down.
