Trump Calls Trudeau "Dishonest" and "Weak" Refuses to Sign G-7 Statement

The G7 communique is out. Trump will not sign it. Instead, he blasted Trudeau.

On Saturday morning, Mr. Trump described his relationships with French President Emmanuel Macron, German Chancellor Angela Merkel and Mr. Trudeau as “a 10.”

10 This

The New York Times reports Trump Refuses to Sign G-7 Statement and Calls Trudeau ‘Weak’

President Trump upended two days of global economic diplomacy late Saturday, refusing to sign a joint statement with America’s allies, threatening to escalate his trade war on the country’s neighbors and deriding Canada’s prime minister as “very dishonest and weak.”

Literally moments after Mr. Trudeau’s government proudly released the joint statement, noting it had been agreed to by all seven countries, Mr. Trump blew apart the veneer of cordiality that had prevailed throughout the two days of meetings in a resort town on the banks of the St. Lawrence River.

Today the Wall Street Journal reports Trump Says U.S. Won’t Endorse G-7 Communique, Threatens Auto Tariffs.

The communique said the nations would “strive to reduce tariff barriers, nontariff barriers and subsidies.”

That statement was in line with my prediction earlier today: "The meeting was productive blah blah blah. We all agree on the need to reduce trade barriers blah blah."

However, there was much more blah blah blah than I expected.

A copy of the eight-page communique, obtained by The Wall Street Journal, states that leaders share a commitment to promoting a “rules-based international order.” Under a section titled “Investing in Growth that Works for Everyone,” the statement underlines “the crucial role of a rules-based international trading system and continue to fight protectionism.”

Ah! Success

That is really quite an amazing video given what happened moments later.

Mike "Mish" Shedlock

Comments (31)
No. 1-25
Tengen
Tengen

So much noise. As fun as it is watching elites (or their politician puppets) snipe at each other, it's clear nothing will come out of this to benefit regular people, the ones who keep falling behind in this financialized economy.

Trying to keep my eye on the economic ball, lest I embrace my inner child and hope every summit devolves into a pie fighting melee.

Realist
Realist

With “friends” like Trump, who needs enemies? He thinks he will somehow create jobs that were automated out of existence long ago by bashing his trade partners. What an unproductive and dangerous waste of time.

Tony_CA
Tony_CA

Final leadership. Merkel and the EU have been a disaster for Europe. Trump even gave props to the new Italian PM.

Realist4ever
Realist4ever

Have you looked at the labor rate, unemployment rates, and job listings lately? Bashing his trade partners? No just stating facts. You think a 270% tariff on American dairy products by Canada is fair? The US has fewer and lower tariffs that ANY country trading with it! Wake up!

themonosynaptic
themonosynaptic

Yes - so we get our inputs cheaper than everybody else. Plus you can always cherry pick a tariff here or there (U.S. tariffs in Canadian softwood anybody?), but the smart thing to do is to unilaterally eliminate tariffs - and forget about other countries subsidizing their uneconomic industries - if they want to give us free money, "yes" is the only answer I want to hear from DC.

Trying to protect jobs in dying industries is pointless - instead of wasting money on that we should be investing in training our people so we get the new jobs - the ones that only exist in America and pay well.

Look at Facebook - median salary: $240,430. Now, tell me that we want to build an America for our kids (who will pay for our retirement) with Facebook-like jobs or dairy farmer assistant jobs? Or steel jobs? Or coal mining jobs?

Capitalism isn't fair, but it is effective. It is our job to unfetter capitalism to create wealth then invest that in our people. Instead we are wasting time and money listening to an economic imbecile who is starting trade wars and castigating education because it makes people centrists.