(Andy Blatchford – Associated Press)
The Trump administration's “absurd” tariffs on steel and aluminum sent protectionism rocketing to the top of Bill Morneau's G7 agenda Thursday as he and his fellow finance ministers from the exclusive club of rich countries braced for the inevitable economic impact.
With his pre-selected program shoved aside, Morneau made it clear the discussions in British Columbia’s Coast Mountains will have little choice but to focus on U.S. President Donald Trump's widely denounced trade offensive against Canada and other G7 allies.
The American move – which prompted retaliatory measures from Canada and others – threatens to drive a powerful wedge into the G7, and could fracture the long-standing multilateral relationship into something observers describe as a “G6 plus one,” with the U.S. as the outlier. Click here to read more.
- Outrage Over U.S. Steel Tariffs Set to Spill Over Into G7 Meeting (Bloomberg)
- Allies in G7 Vow to Fight U.S. Tariffs, See Threat to Growth (Reuters)