President Trump planning on 'straightening out unfair trade deals' at G7 summit

G7 Summit in Taormina

President Trump planning on 'straightening out unfair trade deals' at G7 summit

The president said the US was "pretty close" to reaching an agreement on the North American Free Trade Agreement with Canada and Mexico and had discussed two types of sunset provisions in which any of the countries could leave the deal.

The Prime Minister said she had used the event as a chance to register the UK's "deep disappointment" with President Trump's plans.

President Donald Trump arrived in Quebec, Canada Friday for what is likely to be an incredibly tense meeting of the economic superpowers known as the Group of 7 (G7) - Canada, Japan, the United Kingdom, France, Italy, Germany, and the U.S.

Just before taking off from Charlevoix, Que., Trump called the Group of Seven summit "really tremendously successful" before launching into a tirade about how unfairly he believes the countries in the group have been treating the USA, while complimenting North Korean leader Kim Jong Un and taking a shot at a reporter from "fake news CNN" in the process.

And now, Morneau added the tariffs to Canada's list of deal breakers on NAFTA. "We're gonna fix that situation, and if it's not fixed, we're not going to deal with these countries".

Ben Nelms / Reuters Canada's Minister of Finance Bill Morneau holds a news conference after the G7 Finance Ministers Summit in Whistler, B.C. on June 2, 2018.

The trade spat has dominated the meeting, with Canada and European leaders threatening retaliatory action in response to U.S. tariffs on steel and aluminum.

Officials from the European Union also attend the meetings.

Trudeau was quick with his riposte: "So I'd say NAFTA is in good shape". They didn't tell you that, did they? Why are we having a meeting without them?

He says Russia's return as a member of the Group of Seven would be "an asset".

Morneau said he is engaged in intense talks with his USA counterparts in the hopes of finding a way forward.

From left to right: British Prime Minister Theresa May, German Chancellor Angela Merkel, US President Donald Trump, Canadian Prime Minister Justin Trudeau, French President Emmanuel Macron, Japanese Prime Minister Shinzo Abe, Italian Prime Minister Giuseppe Conte.

President Donald Trump headed into the Group of Seven summit in Canada at odds with allies over US trade penalties.

The source said: "We should remind ourselves why the G8 became the G7 - it was after Russian Federation illegally annexed Crimea". Then he pulled the USA out of the Paris accord the following week.

And he made clear that extends to the current deal the U.S.is renegotiating with its continental neighbours, Canada and Mexico.

In his tweetstorm - and again on Saturday - the President said that such actions were hurting USA farmers and "killing our agriculture".

Trump, who arrived late to the first meeting on gender equality today, will leave before talks on climate change and the health of oceans, after not gaining support in his grievances over USA tariffs. Trump said at the White House just before departing.

Instead, a chairman's statement from the host Trudeau could be produced, setting out what was discussed and where agreement had been impossible. Trudeau called the move "frankly insulting" on "Meet the Press" with Chuck Todd on Sunday.

Trudeau refused, and the meeting was off.

"And so began a long litany of recriminations, somewhat bitter reports that the United States was treated unfairly, that the trading system was totally unfavorable to the United States, the American economy, American workers, the middle class", the official said.

However, Trump wasn't the only one calling for Russia's return.

But all seven countries agreed to a joint statement on artificial intelligence, global trade, middle class growth, innovation, girls' education, and defending democracies from foreign intrusions, officials said.

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