Business

Trump decides to leave G7 meeting in Quebec early after trade dispute

US President Donald Trump will be leaving early from the summit with the leaders of the G7 countries after an unfruitful debate on trade tariffs.

The meeting, which is taking place in Quebec, has had a six-plus-one tone from the start and the seven countries Canada, Britain, the US, France, Germany, Italy and Japan will most likely not be issuing a joint statement as they could not reach a consensus on trade.

Trump, who arrived late to the first meeting on gender equality today, will leave before talks on climate change and the health of oceans, after not gaining support in his grievances over US tariffs.

Ahead of the meeting, Trump already set a hostile tone on his Twitter profile, lashing out against Canadian Prime Minister Justin Trudeau over fees on dairy products, calling him indignant, in addition to criticising unfair tariff barriers.

Read more: FTSE closes lower amid investor fears over impending G7 summit

He wrote on his Twitter profile: “Please tell Prime Minister Trudeau and President Macron that they are charging the US massive tariffs and create non-monetary barriers. The EU trade surplus with the US is $151bn, and Canada keeps our farmers and others out.”

French President Emmanuel Macron wrote ahead of the meeting on his profile: “The American President may not mind being isolated, but neither do we mind signing a six country agreement if need be.”

“Because these six countries represent values, they represent an economic market which has the weight of history behind it and which is now a true international force.”

Trump will be leaving the summit four hours earlier to travel to Singapore to meet North Korean leader Kim Jong-un.

G8 became G7 in 2014 when Russia was excluded over the unlawful annexation of Crimea. Trump has said that Russia should have been readmitted to the negotiations.

He said: “Russia should be in this meeting. Why are we having a meeting without Russia being in the meeting? Whether you like it or not … we have a world to run.”

Read more: Why Trump's tariffs on allies have not caused a market meltdown – yet

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CityAM

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