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Trump says G7 countries treat U.S. like a ‘piggy bank’ to be robbed
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Trump says G7 countries treat U.S. like a ‘piggy bank’ to be robbed
ROBERT FIFE
QUEBEC CITY, OTTAWA BUREAU CHIEF
PUBLISHED JUNE 9, 2018
UPDATED 32 MINUTES AGO
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President Donald Trump leaves after holding a press conference ahead of his early departure from the G7 Summit on June 9, 2018 in La Malbaie, Canada.
LEON NEAL/GETTY IMAGES
President Donald Trump departed the Group of Seven summit early Saturday without making any trade concessions and declared the leaders of the industrialized countries have treated the United States as “piggy bank” to be robbed.
Mr. Trump said he stood up his G7 allies who were angry over U.S. steel and aluminum tariffs imposed against Canada, Europe and Mexico.
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“We are like the piggy bank that everyone is robbing and that ends,” he told a news conference before flying to Singapore for denuclearzation talks with North Korean leader Kim Jong-un. “It is going to stop or we are going to stop trading with them.”
Mr. Trump said he even proposed that the G7 consider removing all tariffs with the United States,
“So you go tariff-free, you go subsidy-free … now I did suggest and I guess they are going to go back to the drawing board and check it out,” he said.
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G7 leaders, led by Prime Minister Justin Trudeau, Germany’s Angela Merkle and French President Emmanuel Macron confronted Mr. Trump with a slew of data on import and exports to sway his thinking, but the President was unmoved.
“When I am telling them, they are smiling at me. It is like the gig is up. There is nothing they can say. They can’t believe they got away with it. Canada can’t believe they got away with it,” Mr. Trump said.
Donald Trump disrupted a G7 breakfast discussion on women’s empowerment Saturday morning by showing up late. Prime Minister Justin Trudeau did not wait for the U.S. president to kick off the meeting in La Malbaie, Quebec.
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The President warned Canada and Europe to back off their threats to hit back with retaliatory trade measures on July 1 if the U.S. does not lift the steel and aluminum levies.
“If they retaliate they are making a mistake because....they do so much more business with us than we do with them that we can’t lose that. We can’t lose it,” he said.
There was little expectation of a major breakthrough at the summit - held in the mountainous Quebec village of La Malbaie - on trade given Mr. Trump’s temperament and long-held protectionist ideology, but the President insisted he got along well with Mr. Trudeau and other leaders who stood up to him.
“We have a great relationship. Angela and Emmanuel and Justin, I would say the relationshiip is a 10,” he said.
On the North American free-trade negotiations, Mr. Trump said he proposed a bilateral deal to Mr. Trudeau, an idea the prime minister rejected. The President said Canada and Mexico were also close to a deal on a sunset clause on NAFTA, but a senior Canadian official said Ottawa is not interested in such a clause that would trigger reopening the trade pact in five years.
At his news conference, Mr.Trump again called for Russia to reinstated to the G7, a suggestion rejected by all the leaders, expect Italy‘s new populist Prime Minister Giuseppe Conte.
The President bragged he would know within a minute of meeting North Korea’s dictator on June 12 whether it was possible to get a nuclear deal.
“He can take that nation and truly make it a great nation so it is a one-time shot and I think it is going to work out very well,” Mr. Trump said.
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