Trump isolated as U.S. slowly detaches from G-20 positions

by Dwayne Torres July 10, 2017, 0:17
Trump isolated as U.S. slowly detaches from G-20 positions

US President Donald Trump meets other world leaders at Germany's G20 summit from Friday, with North Korea's first successful test of an intercontinental ballistic missile casting a long shadow over the gathering at the heavily-fortified venue.

The EU is not a large importer of steel from the United States, so the measure focuses more on goods that the EU brings in from the USA, according to the report.

Stopping over in Poland on his way to the Group of 20 summit meeting in Germany gives President Trump a chance to briefly bask in the acclaim of a right-wing, illiberal Polish leadership before he starts taking flak from more powerful allies like Germany and France.

This would trigger of course, said Gabriel a big reaction from Europe and that will hurt the U.S.as well as European countries.

Trump's administration is weighing whether to impose tariffs, quotas or a combination of both on steel imports under national security grounds through Section 232 of the Trade Expansion Act, even though only a fraction of USA steel is used for defense.

The EU is the world's second largest steel producer after China. Trump announced Friday that had called on South Korea to "stop enabling the export of dumped steel". That is why steel-consuming companies in the United States, and many of his own more prudent advisers, are urging Trump not to act as if the US national interest were equivalent to the narrow interests of the protection-craving steel industry.

The U.S. has often criticized China for illegally subsidizing the steel and aluminum industries and contributing to a global glut of the metals.

Trump presses Xi on 'growing threat' of North Korea
But there was no mention of bilateral trade or investment issues in the statement that China released. China termed the incident a "serious political and military provocation ".

The tariffs could very well provoke a global trade war.

"There is no doubt that this entire line of trade remedy actions regarding national security matters is going to be an issue", said Jacob Kirkegaard, a senior fellow with the Peterson Institute for International Economics.

During his four-day trip, Trump would travel to Poland and then to Germany to attend the G-20 Summit which among others is being attended by Prime Minister Narendra Modi.

The Trump administration argues the USA has become too dependent upon foreign steel for its infrastructure and military equipment.

The European Union has pointed proudly at a wide-ranging trade deal with Japan, concluded just Thursday, as a retort to Trump's protectionist inclinations.

European countries would prefer a multilateral solution on steel, he said. The G-20 will "continue to fight protectionism including all unfair trade practices and recognize the rule of legitimate trade defense instruments in this regard".

World Trade Organization members are already reeling from the risky precedent being set by a growing preoccupation with national security measures at the Geneva-based trade body.


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