Trump Threatens Allies: No More Trade
Posted: Sat Jun 09, 2018 7:56 pm
Because this is what happens you you elect an economic ignoramus to President
Trump Threatens To End Trade With United States’ Closest Allies
President Donald Trump said Saturday at the Group of Seven summit in Quebec, Canada, that the United States would “stop trading” with some of its closest allies unless they change what he believes to be unfair trade policies.
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.” He called many current tariffs on U.S. goods and services “ridiculous.”
“We’re like the piggy bank that everybody’s robbing ― and that ends,” the president said.
He later said, “It’s going to stop, or we’ll stop trading with them. And that’s a very profitable answer, if we have to do it.”
Although Trump said the trade talk was “not contentious,” his comments come amid a tense few days with multiple world leaders over Trump’s decision to impose steel and aluminum tariffs on the country’s biggest trading partners: Canada, Mexico and the European Union.
Trump’s tariffs initially went into effect in March, aimed specifically at China, but the White House announced in May that the three allies would no longer be exempt from the taxes. Canada, Mexico and the European Union all threatened retaliatory tariffs after their exemption status was lifted.
Canadian Prime Minister Justin Trudeau and French President Emmanuel Macron spoke candidly about pushing Trump to reverse his position on the tariffs. Macron told reporters that while Trump may not mind U.S. isolation, “neither do we mind signing a six country agreement if need be.”
“American jobs are on the line because of his actions and because of his administration,” Trudeau said at a news conference Thursday. “When we can underscore this, and we see that there’s a lot of pressure within the U.S., perhaps he will revise his position.”
Trump Threatens To End Trade With United States’ Closest Allies
President Donald Trump said Saturday at the Group of Seven summit in Quebec, Canada, that the United States would “stop trading” with some of its closest allies unless they change what he believes to be unfair trade policies.
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.” He called many current tariffs on U.S. goods and services “ridiculous.”
“We’re like the piggy bank that everybody’s robbing ― and that ends,” the president said.
He later said, “It’s going to stop, or we’ll stop trading with them. And that’s a very profitable answer, if we have to do it.”
Although Trump said the trade talk was “not contentious,” his comments come amid a tense few days with multiple world leaders over Trump’s decision to impose steel and aluminum tariffs on the country’s biggest trading partners: Canada, Mexico and the European Union.
Trump’s tariffs initially went into effect in March, aimed specifically at China, but the White House announced in May that the three allies would no longer be exempt from the taxes. Canada, Mexico and the European Union all threatened retaliatory tariffs after their exemption status was lifted.
Canadian Prime Minister Justin Trudeau and French President Emmanuel Macron spoke candidly about pushing Trump to reverse his position on the tariffs. Macron told reporters that while Trump may not mind U.S. isolation, “neither do we mind signing a six country agreement if need be.”
“American jobs are on the line because of his actions and because of his administration,” Trudeau said at a news conference Thursday. “When we can underscore this, and we see that there’s a lot of pressure within the U.S., perhaps he will revise his position.”
