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 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.

Recommended News

TOP News

Voice shopping deals on Amazon Prime Day
Some devices may be worth a punt if the price is right, but some products we test aren't worth a penny of your hard-earned cash. Alexa voice shoppers interested in exclusive Prime Day deals can ask Alexa for the latest deals starting July 5.

Qatar responds Negatively to Saudi led coalitions demands
Qatar had until Wednesday to reply to a list of 13 stipulations after the bloc agreed to extend the initial deadline by 48 hours. Foreign minister Sigmar Gabriel says he no longer sees the risk of military escalation in the Qatar-Gulf standoff.

Oil prices rise to 2-week high on dip in USA output
The analyst stressed the increase has been driven by higher output from Nigeria and Libya , which were exempted from the deal. The growing concern is that rising Non-Opec output, led by the U.S. is increasingly offsetting the reduced Opec production.

Tour de France: Dan Martin loses ground after two falls
Pre-race favorite Richie Porte of Australia (BMC Racing) and Froome's lieutenant Geraint Thomas crashed out. Overall, Froome leads Aru by 18 seconds and Bardet by 51.

Maryland says it won't provide voter data to Trump election panel
Officials in 10 states and the District of Columbia said they would not comply at all with the request. Some of the nation's most populous states, including California and NY , are refusing to comply.

Princess Diana Gravesite Rededicated On Her Birthday
Diana's older sisters - Lady Sarah McCorquodale, 60, and 62-year-old Baroness Fellowes - also attended yesterday's ceremony. Princess Diana's grave was rededicated on her birthday after the service that was given in her honor.

Israel Raids West Bank, Detains Six Palestinians Including One Minor
Jews regard the Tomb of the Patriarch as the burial place of the Jewish patriarchs and matriarchs . It later annexed East Jerusalem al-Quds in a move not recognized by the worldwide community.

GST will improve India's image as investor friendly country: ASSOCHAM president
It is expected that by doing away with the plethora of taxes and barriers on state borders, GST will accelerate economic growth. Meanwhile, it is raining sales on consumer electronics and home appliances to clear stocks before the GST kicks in on July 1.

Knicks Sign Issue Sheet with Tim Hardaway Jr. for $71 Million
They plan to notify the National Basketball Association and Knicks later Saturday, according to ESPN . Warsaw native Marshall Plumlee is on the move after being waived by the New York Knicks on Friday.

China's Xi To Trump: Hopes US Handles Taiwan Issue Appropriately
Hard to believe that South Korea. "Things such as strengthening pressure on North Korea or urging China to fulfill even more of a role".