The G20 summit in Hamburg, Germany has been a mixed success for American president Donald Trump.
On the one hand, Trump negotiated a ceasefire for southwestern Syria with his Russian counterpart, Vladimir Putin. American-backed rebels have been fighting the Russian-backed regime of Bashar Assad there.
On the other hand, he didn’t elicit Russia’s support for the war against the self-proclaimed Islamic State, which is Trump’s priority.
On the one hand, G20 leaders conditioned open markets on “reciprocal and mutually advantageous trade” in their summit declaration and recognized the role of “legitimate trade defense instruments” — a political victory for Trump.
On the other hand, a threat from European Commission president Jean-Claude Juncker to retaliate with EU trade sanctions appears to have persuaded Trump not to raise tariffs on steel. Read more
Europe, Japan Send “Strong Signal” with Trade Deal
European and Japanese leaders have announced a landmark trade agreement on the eve of the G20 summit in Hamburg, Germany, where America’s president, Donald Trump, is expected to press his case for protectionism.
The treaty has yet to be finalized. A summit in Brussels was hastily arranged to “send a strong signal,” as the EU’s trade commissioner, Cecilia Malmström, put it earlier this week.
“We believe we should not build walls or raise protectionism,” she said. Read more
NAFTA stands for the North American Free Trade Act, but President Donald Trump does not.
After campaigning on a promise to repeal the act, then adapting his position to that of merely supporting the act’s renegotiation, Trump recently announced that he would no longer tolerate the status quo arrangement for American imports of dairy and forestry products originating from Canada. Read more
Trump Is Not the First American Leader to Criticize German Exports
American president Donald Trump has reportedly chided the Germans for selling more goods and services to his country than they buy from it, calling them “very, very bad”.
“Look at the millions of cars they sell in the US. Terrible. We’ll stop it,” Trump was quoted as saying in Der Spiegel, which cited EU diplomats. (No matter that German carmakers are responsible for tens of thousands of jobs in the United States.) Read more