Posted on 06/07/2018 10:42:19 AM PDT by mandaladon
OTTAWA (Reuters) - Leaders of the Group of Seven rich nations headed for a summit in Canada on Thursday more divided than at any time in the group’s 42-year history, as U.S. President Donald Trump’s “America First” policies risk causing a global trade war and deep diplomatic schisms.
In a bid to rebuild America’s industry, Trump has imposed hefty tariffs on steel and aluminum imports, including those from key G7 allies like Canada, Japan and the European Union.
He has threatened to use national security laws to do the same for foreign car imports and has walked back on environmental agreements and an international deal to prevent Iran from building a nuclear bomb.
Trump will arrive in Canada on Friday, on the way to Singapore where he hopes to strike a historic nuclear deal with North Korean leader Kim Jong Un.
The U.S. president is in no mood for compromise over trade and now has frosty relations with Canadian Prime Minister Justin Trudeau, the summit host. Pleas by the other member countries for exemptions from the steel and aluminum tariffs, which went into effect on June 1, have fallen on deaf ears in Washington.
But rather than seek a fight with Trump at the summit, French President Emmanuel Macron made an appeal for productive discussion.
“In this environment, above all we always have to stay polite, stay productive and try to convince (them), to keep the United States on board because they are our historical ally and we need them,” Macron told a news conference held with Trudeau in Ottawa on Friday.
But he urged the other industrialized countries to stick together.
“We must not fall apart. The six other nations of the G7 represent a market that is larger than the American market,” Macron said.
(Excerpt) Read more at reuters.com ...
In the late 80’s and early 90’s Japan was dumping their cheap steel on our market with fake paper work saying that the steel was of the correct heat and chemistry. so we had all sorts of problems mainly with bolts and other fasteners.
There were grade 8 bolts that did not meet grade 5 standards that wound up on our military, automotive and aircraft industries inventories, that were failing and endangering people and equipment. It took years and untold amounts of money to clear and replace all that inventory.
Now China is doing a repeat. So we put a tariff on their steel so they do an end-run. By dumping their steel in Canada, Mexico and the EU redoing the paperwork and shipping it to US as if it comes from the middlemen.
President Trump representing the United States.
That would be my caption.
That’s why we voted for him, not intimidated, and getting us to the front of the line.
The EU NWO is not happy that traitor girl Obama isn’t in charge anymore.
Nor Crooked Hillary.
It sounds like the six other nations don't really need the American market.
If so, what's the worry about tariffs, Macron? Just trade with each other.
Its gonna be a long 8 years for you.
These people showing up are all political ‘hacks’...zero background in business or tariffs. They are told that US tariffs are evil...their own tariffs are good.
$
Everything you need to know about world steel production and consumption:
https://www.worldsteel.org/en/dam/jcr:0474d208-9108-4927-ace8-4ac5445c5df8/World+Steel+in+Figures+2017.pdf
China produces over half of the world's steel. The United States has fallen to 4th place in world production, and our steel output continues to drop year over year. We currently import a third of the steel we consume.
Here's the relevant stats for Aluminum production:
https://www.worldatlas.com/articles/top-aluminum-producing-nations-in-the-world.html
What is not reported in regard to aluminum production is that the United States had 22 operating aluminum smelters in 2002. Today, the number is four, and one of them only operates due to a substantial subsidy from the State of New York. United States aluminum production has been reduced to pre-World War 2 levels.
My brother in law worked in the aluminum industry, until Alcoa closed their Port Lavaca Texas plant. A good friend works in the steel industry; he says they cannot compete price-wise with the cheap Chinese imports.
While the tariff doesn't discuss the chemical industry, another friend works in the Agrichemical industry, and he says they are feeling the effects of cheap Asian fertilizers entering the American market. You may not like tariffs or protectionism, you may think they subsidize inefficient industries. But if you want an advanced industrial economy, you have to do something to protect your industry from predation.
If you don't want an advanced industrial economy, enjoy your eventual economic serfdom.
Polite and productive would seem a better choice than those being made by a certain former citizen of East Germany.
I guess "In a bid to close the over $560,000,000,000 trade deficit, Trump has imposed..." just didn't have the same ring to it.
It’s an act.
That is called an unfair trade agreement.
Something Trump will not be a part of.
Be polite to Trump’s face and behind Trump’s back work to oust him.
With allies like these, who needs enemies.
That happened about a year ago at Trump’s first NATO summit. It still makes me LMAO. Is it pushy and undiplomatic? Yep. Welcome to NYC - that’s where he’s from. It shows he will do whatever it takes to get to the front. It is a PERFECT contrast to Obama’s disgraceful global apology tour which produced numerous pics of him bowing and scraping. Trump is an ENTIRELY different animal - ie an alpha male. Deal with it Euroweenies.
Trump didn’t impose it. That and a moribund economy are what he inherited from Obama’s failed presidency.
Money.
Thanks for the info. I LOL when I watch it.
“We must not fall apart. The six other nations of the G7 represent a market that is larger than the American market,” Macron said.
Good! Then you won’t be missing your sales to the US! The fact of the matter is if we discontinue our foreign aid, NATO funding, UN financial support, all of you are screwed! Macron is French for “little faggot!”
I’m talking about the tariffs, not the trade deficit. He imposed the tariffs to pressure these other countries to change the terms of their trade agreements/practices with us.
They cut that clip short
Just before Trump exclaimed
WHO’S YOUR DADDY?
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