Saturday, 22 July, 2017

Trump, World Leaders Head to G20 Summit Under N Korea Shadow

G20 leaders have struggled to come to a deal on climate change involving the United States G20 leaders have struggled to come to a deal on climate change involving the United States
Felix Bryan | 10 July, 2017, 00:18

Many Republicans-including many in his administration, according to an Axios report-oppose new tariffs.

Trump has been mulling whether to put tariffs on imports of foreign-produced steel and has alluded to steep imports harming national security, and if those imports are in fact harming national security-or if he says they are-Trump could use a rarely tapped section of the Trade Expansion Act of 1962 to slap tariffs on steel. The White House is considering using this rationale to impose new restrictions, either by imposing tariffs, quotas or a combination of the two.

European Union officials are considering tariffs on agricultural products including orange juice, whiskey, and dairy if Trump follows through with a steel tariff said the FT.

The European Union is considering retaliatory tariffs against the United States if President Donald Trump follows through on his plan to impose restrictions on the imports of steel, according to a new report from Shawn Donnan at the Financial Times.

Prime Minister Justin Trudeau's government has been privately assured by the USA that Canada won't be affected by any steel measures, according to a Canadian government official, who spoke on condition of anonymity.

"It's a hard issue (steel) and it can be a very provocative issue", said Thomas Bernes, a former International Monetary Fund and World Bank official who is now a fellow at the Centre for International Governance Innovation based in Waterloo, Ontario.

The dispute over steel reflects deeper tension over trade between European leaders and Trump.

In a Twitter post on Friday, Trump wrote of the G-20 that "I will represent our country well and fight for its interests!" Walking away, he looked toward reporters and pumped his fist in the air.

When Trump launched the Section 232 steel probe in April, he said it had "nothing to do with China". So much for China working with us - but we had to give it a try!

It is unclear, though, whether that approach will be effective.

This move now is not surprising that Trump made free trade as the central topic of his campaign after he finished criticizing China, Japan and Mexico.

"It just opens the door to everyone else to do same thing, not just on steel", Reinsch said. "That would be wrong", Juncker said.

Angela Merkel the Chancellor of Germany has been critical of the view Trump holds for global trade. Otherwise, the risk of "bilateral actions" increases, Merkel said. As the meeting's first day wrapped up, leaders indicated that steel remains one of the hottest subjects of debate. At summits such as the G-20, negotiators hammer out a final statement that is supposed to distill consensus and set policy directions for the many countries and organizations that have come together.

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