Tuesday, 14 August, 2018

Trump wants separate trade deals with Canada, Mexico, says adviser Kudlow

Justin Trudeau Justin Trudeau , Bloomberg
Scott Davis | 07 June, 2018, 13:56

They endorsed "the importance of the rules-based global trading system".

While trade is expected to dominate, Trudeau also wants to focus on gender equality and climate change. But the G-7 remains a symbol of the traditional US -led order. USA stocks were trading higher on Wednesday. But "The President is at ease with all these tough issues" and would be "sticking to his guns". Canada is said to be considering a similar response. The moves follow a similar announcement from Canada.

"We have on various occasions heard the president speak about his interest or his musings about bilateral deals, instead of the trilateral NAFTA that we have", he said.

"There are communities and countries all over the world that have taken leadership on this and shown that plastic bag bans and straw bans, and so on, can be implemented, and there's no reason why it can't happen in Canada".

Rebuffing the criticism down the line, Mr Trump reportedly shot back: "Didn't you guys burn down the White House?".

Pierre Lampron, president of the Dairy Farmers of Canada, said in a letter to Trudeau Monday the prime minister's comments were "quite worrisome", and "deeply troubling for our dairy farmers", given repeated pledges of support by Trudeau and his lawmakers for the sector.

This is one area where Canada may have something concrete to announce, perhaps in the form of a pledge.

"We may have tactical disagreements, but he has always said - and I agree - tariffs are a tool in that effort".

After increasing pressure from the Mexican government, the Obama administration eventually relented and changed rules to allow Mexican truckers to enter the U.S. more efficiently.

"International, multilateral organizations are not going to determine American policy", White House National Economic Council Director Larry Kudlow told reporters at a press briefing. That tariff came at the start of the apple harvest and lasted for more than a year. Will US allies be willing to be supportive in other contexts - say, dealing with Iran? Russian attempts to interfere in the French and German elections, as well as emerging evidence of its involvement in the Brexit referendum, have concentrated European minds on the topic.




The package would include increased purchases of US soybeans, corn and other agricultural goods.

"The United States needs allies for a range of issues".

Steven Mnuchin, Treasury secretary, speaks during a Bloomberg Television interview in Washington, D.C., March 7, 2018.

Trade fits under the heading, "Growth that works for everyone".

The G7 summit on Friday and Saturday in La Malbaie, a small town 140 kilometers (87 miles) from Quebec City, will bring together the leaders of Britain, Canada, France, Germany, Italy, Japan and the United States.

And higher prices for things that require steel or aluminum like cars, planes, construction and appliances can slow the rest of the economy.

Mexico's tariffs also target grated or powdered cheese, which could take a bite of the significant dairy economy in California's 10th congressional district where Republican Jeff Denham is seen facing a tight race. "The impact on Canada and ultimately on workers in the US won't be a laughing matter".

That move unleashed fury in the Group of Seven (G7) industrialized nations and prompted quick retaliation from Canada and Mexico and a promise from the European Union to do so as well, unnerving investors who fear a trade war that could derail the global economy.

Last year, all seven leaders were able to sign off on a statement affirming "our commitment to keep our markets open and to fight protectionism".

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