Web Desk (June 10, 2018): Leaders of the G7 nations have agreed at their summit in Canada on the importance of a rules-based trading system, despite tensions with the US.
The joint statement signed by US President Donald Trump and his counterparts comes amid a row over high US tariffs imposed this month on steel and aluminium imports.
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The EU and Canada have taken steps to retaliate.
Trump says tariffs are needed to reverse America’s trade deficit.
Soon after the joint statement was announced, the US president tweeted defiantly about not allowing “other countries to impose massive tariffs and trade barriers on its own farmers, workers and companies”.However Canadian Prime Minister Justin Trudeau vowed to go ahead with retaliatory tariffs on the US after what he described as Trump’s insulting decision to invoke national security concerns to justify the levy on steel and aluminium.
He said Canadians are polite and reasonable but we will also not be pushed around.