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
-
New Rule From US Commerce May Help Limit Spread of North Korean Cybercrime
Commentary
As sanctions tighten in other areas, such as the commodities trade, North Korea continues to compensate for its monetary losses with funds obtained through illicit cyber activ...
By Jason Bartlett
-
Taking Stock of the New U.S. Trade Policy on China
Commentary
Though short on details, Tai’s remarks provided the outline of an overarching strategy to manage China’s “zero-sum” approach to global trade....
By Emily Kilcrease
-
Former CIA Analyst on Crypto Regulation
Video
Yaya Fanusie, Adjunct Senior Fellow at the Center for a New American Security, discusses national security implications of cryptocurrencies and blockchain technology. He speak...
By Yaya J. Fanusie
-
Economic Crisis in Afghanistan
Podcast
Alex Zerden, founder and principal of Capitol Peak Strategies discusses the economic crisis in Afghanistan. He spoke with Bloomberg's David Westin. Listen to the full convers...
By Alex Zerden
