By Global Consultants Review Team
At the G7 Summit in Canada, world leaders urged U.S. President Donald Trump to ease his tough trade policies, warning that his rising tariffs could harm the global economy. Canada, which hosted the meeting, tried to keep the summit calm and focused on other global issues, such as tensions in the Middle East. However, leaders from several countries still used the event to ask Trump to drop plans for more tariffs that could start next month.
Many G7 countries are already dealing with a 10% tariff on their exports to the U.S. Additional taxes on cars, steel, and aluminum have hit European nations and Japan hard. Leaders from other G7 countries spoke with Trump in private meetings, trying to convince him to agree to deals that would lower trade tensions. During official talks, they warned him that continuing with high tariffs could cause serious problems for the world economy.
Some leaders said the trade fight should end soon, adding that it could make China stronger in the long run if it continues. At the summit, Trump signed a trade deal with the United Kingdom, allowing the UK to avoid the new tariffs. “I like tariffs. They’re the best protection,” Trump told reporters after meeting British Prime Minister Keir Starmer. However, during their press event, Trump accidentally dropped the signed papers, which scattered on the floor.
Canada has been especially worried, as Trump’s team recently added more tariffs on Canadian goods, making the country’s economic future uncertain. After Trump spoke with Canadian Prime Minister Mark Carney, Canada said both sides might reach a trade peace within the next month.
Japan’s Prime Minister Shigeru Ishiba also met Trump for about 30 minutes to try to protect Japan’s interests. But according to Japan’s public broadcaster NHK, Ishiba said both sides still had differences and hadn’t reached a full agreement.
There were hopes that Trump would meet with other non-G7 leaders like those from South Korea, India, Brazil, and South Africa, who were arriving at the summit later. But those meetings were canceled after Trump decided to leave the summit early due to the ongoing crisis with Iran.
Many countries are now rushing to work out trade deals with the U.S. before the new tariffs begin on July 9. Mexico, whose President, Claudia Sheinbaum, is also attending the summit, hopes to update its trade deal with Canada and the U.S. soon. Though big progress on trade was not expected at this summit, U.S. Trade Representative Jamieson Greer joined Trump’s team for the talks. Leaders continue to push for solutions, hoping to avoid a full-blown trade conflict.
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