After G-7 meeting, US, major trading partners move in opposite direction

WASHINGTON, June 11 (APP):After the G-7 meeting of the worlds most industrialized nations last weeks, relations between the United States and its major trading partners including EU and Canada seem falling apart further and may get even more tense.
The US media continues to be dominated by the news and the consequences of the meeting held in Canada that exposed the extent of the growing tense relations after President Trump refused to sign the joint communique and even threatened the US closest allies to remove trade barriers or face consequences.
The group formed more than four decades ago is an informal bloc of industrialized countries including China, France, Germany, Italy, Japan, the United Kingdom and the United States that meets annual to discuss issues such as global economic governance, international security, and energy policy.
Doubling down on his criticism, President Trump on Sunday criticized the EU for having a $151 billion trade surplus with the US. An Associated Press report, however, stated that the surplus was in fact $101 billion. He also criticized his NATO partners for not paying their fair share of defense spending by the group that comprises the US and its Western allies.
The president is currently in Singapore for what is termed as historic talks with North Korean
leader Kim Jong Un to convince the country to give up its nuclear weapons. But, the outcome of G-7 summit has overshadowed the meeting. The tense trade relations could have serious impact for the world trade.
President Trump escalated the trade wars with his countrys major trading powers by imposing tariffs on steel and aluminum imports that not only angered its allies but is also negatively impacting consumers back home. Tariffs were also opposed by lawmakers from his Republican party.
“Sorry, we cannot let our friends, or enemies, take advantage of us on Trade anymore. We must put the American worker first!” Trump said on his trademark Tweets on Sunday. He exchanged open barbs with the Prime Minister of Canada which hosted the meeting. Canada is the top export market for the U.S., which had an $8.4 billion surplus with the country in 2017.
On Sunday, two of his top advisers ramped up the criticism of the Canadian leader, including trade adviser Peter Navarro who said that there is a special place in hell for Trudeau. Following the comments by US officials, many American and foreign leaders publically voiced their support for Trudeau and criticized Trump for picking a fight.
German Chancellor Angela Markel in an interview on Sunday said that the EU would respond to US tariff hikes with its own duties on US imports.