June 07, 2018
The G7 summit will be contentious — for all the wrong reasons
Leaders of the Group of 7 industrialized democracies will gather this week in Quebec for their annual meeting on the world's economy. Following the Trump administration's recent imposition of steel and aluminum tariffs on Europe, Japan and Canada, however, the summit is shaping up as 6 versus 1.
Why it matters: What would normally be an opportunity to forge unity on key challenges — with China's discriminatory trade practices foremost among them — will be anything but.
The summit comes as wealthy democracies worry about an accelerating slide toward all-out trade war. Canada and Mexico have already responded to the tariffs with their own measures against U.S. imports, and the European Union is readying to retaliate. Trump has signaled that he may next impose tariffs on foreign automobiles, to which America's economic partners are likely to respond. Endless tit-for-tat moves toward protectionism would be bad for everyone.
Read the Full Article at Axios
More from CNAS
-
Ex-NATO Official: Putin Is ‘Stringing Along Trump’ to Push for Sanctions Relief
Jim Townsend, an adjunct senior fellow at the Center for a New American Security, weighs in on peace talks after the Putin-Zelenskyy-Trump call and whether the U.S. is failing...
By Jim Townsend
-
Ziemba: U.S. Has To Be Ready To Accept Mideast Investments
US President Donald Trump has secured $200 billion in deals during a visit to the United Arab Emirates, according to the White House, as he wraps up his visit to the Middle Ea...
By Rachel Ziemba
-
Trump Inks $600 Bn Deal In Saudi Arabia | Musk, Blackrock CEO Flank Trump In Gulf Visit
In today's episode of India Global, U.S. President Donald Trump secured a $600 billion commitment from Saudi Arabia on Tuesday to invest in the United States. NDTV's Gaurie Dw...
By Daniel Silverberg
-
Lessons from the U.S.-China Trade War
America and China have agreed to a 90-day truce of their month-long trade war, but the economic uncertainty has not yet ended. Beyond tariffs, the spat had begun spilling over...
By Edward Fishman