Patterico's Pontifications

8/24/2019

The G7 (Trump + 6) Summit in France

Filed under: Economics,International — DRJ @ 7:28 am



[Headlines from DRJ]

In the US, the media sees the G7 summit as Trump facing limits of go-it-alone stance:

BIARRITZ, France (AP) — President Donald Trump arrived Saturday in France for an international summit with the leaders of the globe’s economic powers as he confronts the consequences of his preference for going it alone, both in a sharply divided United States and an interconnected world. The meeting of the Group of Seven nations — Britain, Canada, France, Germany, Italy, Japan and the U.S. — in the beach resort town of Biarritz comes at one of the most unpredictable moments in Trump’s White House tenure, with his public comments and decision-making increasingly erratic and acerbic of late.

Trump, growing more isolated in Washington, faces a tepid reception on the world stage, where a list of challenges awaits. Anxiety is growing over a global slowdown , and there are new points of tension with allies on trade, Iran and Russia.

Fears of a financial downturn are spreading, meaning the need for cooperation and a collective response is essential. Yet Trump has ridiculed Germany for its economic travails at a time when he may have to turn to Chancellor Angela Merkel and others to help blunt the force of China’s newly aggressive tariffs on U.S. goods. Those trade penalties, combined with the economic slowdown, have raised political alarms for Trump’sreelection effort.

Meanwhile, in France, an Isolated Trump descends on G7, talking trade war:

An isolated President Donald Trump arrived Saturday for the G7 summit in Biarritz bearing threats of tariffs against host France and a decision to deepen his trade war with China, despite fears of US or even global recession.

Trump dislikes the kind of multilateral forums epitomized by the G7, insisting on a policy of “America first” and his own skills, honed in a real estate career, of one-to-one deal making.

Ahead of the summit in the elegant French seaside resort, he has criticized most of his partners, rowing with them over Iran, trade, global warming and Brexit. And on the eve of his trip, he brushed aside concerns of global economic slowdown to exchange new tariffs with China, insisting “we’ll win.”

Finally, in China, no reports about the G7 — of which China is not a member — but there are several reports about Trump and tariffs including China adds crude oil to tariffs list for first time in targeted retaliation against US:

Beijing will also resume imposing duties on American cars in what observers say is a restrained but focused response to latest US tariffs.

State media commentary says it was designed to ‘inflict pain on the US manufacturing sector’ and rattle US financial markets.

— DRJ

14 Responses to “The G7 (Trump + 6) Summit in France”

  1. So they are killing off their coal and nuclear plants but their footprint is going up, france has quelled their self inflicted wound to a degree.

    Narciso (222325)

  2. one would think that last sentence was editorializing

    there will be a brisk and frank discussion about many issues, including europes economic fortunes of late, their insistence on continuing with a flawed compact with iran,

    narciso (d1f714)

  3. furthermore, the tenuous state of the Chinese economy isn’t addressed in their situation, since we are their primary export market, and our exports are of a much more limited scope,

    narciso (d1f714)

  4. the US needs to work toward reaching accommodations with Europe where possible and focus on China, enemy of the free world.

    Colonel Haiku (14278d)

  5. As Trump as stated, we need to invite Russia back in. It should be the G8 summit not the G7.

    rcocean (1a839e)

  6. The USA doesn’t exist to help others. We’re not charity, we’re a country. We attend these meetings to cooperate with our “allies” because it ultimately helps us. The fact that our “allies” treat us badly, or don’t meet their commitments, and we complain about it, doesn’t make us the bad guys.

    rcocean (1a839e)

  7. are they a major economic power, otherwise they don’t qualify, yes I understand other issues play into it, but military and other strategic measures, constrain it better,

    narciso (d1f714)

  8. Merkel backed Macron’s call for unity on the Amazon fires yesterday. The Brazilians objected but they aren’t in the G7.

    DRJ (15874d)

  9. they have learned from their yellow vest endeavours, but to push harder,

    narciso (d1f714)

  10. No talk of climate change; “The weather is fantastic,” crowed our Captain!

    ‘France in August: usually hot, humid… uncomfortable.’ – source, fodors.com

    DCSCA (797bc0)

  11. well remember the heat wave in 2003, when all the doctors were on vacation,

    narciso (d1f714)

  12. I agree with Ms. Haley:

    This is completely disrespectful to @realDonaldTrump and the other leaders at the G7. Iran supports terrorism at every turn and continues to pursue “Death to America”. Manipulative of Macron to do this and very insincere. #NotWhatFriendsDo

    Paul Montagu (a2342d)


Powered by WordPress.

Page loaded in: 0.2318 secs.