Trump: US will “do very well” at G7, issues threats if new deals not reached

Prior to departing Friday for the G7 summit in Quebec, Canada, President Donald Trump predicted the US would “do very well” at the gathering of the world’s key industrial powers.

However, he threatened to terminate the North American Free Trade Agreement (NAFTA) if the other countries try to reach an agreement without the US. “We’re going to deal with the unfair trade practices,” Trump said in remarks to reporters outside the White House. “If you look at what Canada and Mexico, the European Union (EU), all of them have been doing to us for many, many decades, we have to change it. And they understand it’s going to happen.” “Now, if we’re unable to make a deal, we’ll terminate NAFTA,” he said. “We’ll have a better deal. If we are unable to make a deal, we will be better off. Right now, we are not going to live with the deals the way they are.” “The European Union treats us very unfairly; Canada, very unfairly; Mexico, very unfairly,” Trump said. “With that being said, I think we’ll probably very easily make a deal.” Trump has ratcheted up tensions with the key US allies ahead of the summit by imposing tariffs on imported steel and aluminum. The move has effectively launched a trade war as the affected countries have retaliated by announcing tariffs on various US imports.

The President also said that Russia should have been included in the G7 gathering.

“Why are we having a meeting without Russia being in the meeting?” he said. “It’s up to them, but Russia should be in the meeting. It should be a part of it.” “You know, whether you like it or not — and it may not be politically correct — but we have a world to run, and in the G7, which used to be the G8, they threw Russia out,” Trump said. “They should let Russia come back in, because we should have Russia at the negotiating table.” “Look, all of these countries have been taking advantage of the United States on trade,” he said. “You saw where Canada charges our dairy farmers 270 percent tariffs. We don’t charge them, or if we do, it’s, like, a tiny percentage. So we have to straighten it out.” The US has massive trade deficits with almost every country, Trump said. “We will straighten that out,” he predicted. “It’s what I do. It won’t even be hard. And in the end, we’ll all get along.” The other G7 countries “are trying to act like, ‘Well, we fought with you in the war,’ and they don’t mention the fact that they have trade barriers against our farmers,” Trump said. “They don’t mention the fact that they’re charging almost 300 percent tariffs. When it all straightens out, we’ll all be in love again.

Source: Kuwait News Agency