Category: Trade

Trump rips Canada, NATO in Singapore tweetstorm

President Donald Trump started his day in Singapore on Monday blasting the Canadian Prime Minister and slamming NATO just after meeting with the U.S. allies at the G-7 meeting in Quebec.

“Fair Trade is now to be called Fool Trade if it is not Reciprocal,” Trump tweeted Monday morning in Singapore. “According to a Canada release, they make almost 100 Billion Dollars in Trade with U.S. (guess they were bragging and got caught!). Minimum is 17B. Tax Dairy from us at 270%. Then Justin acts hurt when called out!”

Trump was referring to Prime Minister Justin Trudeau in the tweet.

The president has accused Canada of taking advantage of American workers through their trade practices.

According to the U.S. trade representative, however, there was an $8.4 billion U.S. trade surplus with Canada on goods and services in 2017.

Trump also took aim at NATO for relying too heavily on the U.S. for their security.

“The U.S. pays close to the entire cost of NATO-protecting many of these same countries that rip us off on Trade (they pay only a fraction of the cost-and laugh!),” Trump tweeted. “The European Union had a $151 Billion Surplus-should pay much more for Military!”

The U.S. pays 22% of NATO’s budget — higher than any other nation.

The U.S. has pushed NATO member nations to spend at least 2 percent of their GDP — a benchmark some have been unable to meet.

Trump was in Singapore preparing for his meeting with North Korean leader Kim Jong Un.

“Great to be in Singapore, excitement in the air!” Trump wrote.

[New York Post]

Trump told Macron EU worse than China on trade

President Donald Trump told French President Emmanuel Macron that the European Union is worse than China on trade during a conversation that portended the tense end to this year’s G7 summit.

In a meeting at the White House during the French president’s visit to Washington in April, Macron suggested the United States and France should work together to resolve shared trade problems with Beijing, prompting Trump to make his remark, a person in the room told CNN.

Trump told Macron during their meeting in Washington that there are too many German cars in the United States, the source previously told CNN. The source did not say Trump explicitly said he wanted all German-made cars out of the US. Trump focused his conversation with Macron on German trade for about 15 minutes in the one-hour meeting.

Trump has been on a tear about German trade and cars in particular, bringing up the issues with other European leaders with whom he has met over the last few months, the source said.

The details of the conversation, which Axios previously reported, come amid fears of a looming trade war over the Trump administration’s move to impose steep tariffs on steel and aluminum imports from the European Union, Canada and Mexico. Those tensions boiled over during the G7 summit in Canada on Saturday, with Canadian Prime Minister Justin Trudeau and European leaders reaffirming plans to institute retaliatory measures and Trump lashing out in response byrefusing to endorse the group of industrialized nations’ communique.

That, in turn, prompted harsh reactions from European officials and members of Congress, including Republican Sen. John McCain, who said Americans would continue to stand with the nation’s historical allies.

“To our allies: bipartisan majorities of Americans remain pro-free trade, pro-globalization & supportive of alliances based on 70 years of shared values,” the Arizona senator tweeted. “Americans stand with you, even if our president doesn’t.”

Senior Trump aides escalated the rhetoric on Sunday morning’s news shows, with chief economic adviser Larry Kudlow calling Trudeau’s remarks “a betrayal” on CNN’s “State of the Union” and top trade adviser Peter Navarro saying on “Fox News Sunday” that “there’s a special place in hell” for the Canadian leader.

Trump, who is in Singapore for negotiations with North Korea, continued to rip into US trading partners late Sunday night Eastern Time, repeating complaints about the US trade deficit and contributions to NATO.

“Fair Trade is now to be called Fool Trade if it is not Reciprocal,” Trump wrote in a series of postson Twitter. “According to a Canada release, they make almost 100 Billion Dollars in Trade with U.S. (guess they were bragging and got caught!). Minimum is 17B. Tax Dairy from us at 270%. Then Justin acts hurt when called out!”

“Why should I, as President of the United States, allow countries to continue to make Massive Trade Surpluses, as they have for decades, while our Farmers, Workers & Taxpayers have such a big and unfair price to pay?” the President continued. “Not fair to the PEOPLE of America! $800 Billion Trade Deficit … And add to that the fact that the U.S. pays close to the entire cost of NATO-protecting many of these same countries that rip us off on Trade (they pay only a fraction of the cost-and laugh!). The European Union had a $151 Billion Surplus-should pay much more for Military!”

[CNN]

Kudlow: Trudeau ‘stabbed us in the back’

White House economic adviser Larry Kudlow repeatedly accused Canadian Prime Minister Justin Trudeau of “betrayal” and saying he “stabbed us in the back” for standing up to President Donald Trump after the G-7 meeting.

Speaking hours after Trump ordered the U.S. not to endorse the G-7 communique, Kudlow slammed Trudeau for a “sophomoric play” in holding a press conference after the G-7 meetings and saying Canadians “will not be pushed around.” Soon afterward, Trump tweeted that the U.S. would not participate in the G-7 communique agreed to earlier on Saturday.

“He really kind of stabbed us in the back,” said Kudlow, the White House National Economic Council director, speaking on CNN‘s “State of the Union.“

Kudlow, who said he was in the bilateral meeting with Trudeau and Trump, said the two leaders “were getting along famously.”

“We were very close to making a deal with Canada on NAFTA, bilaterally perhaps, and then we leave and Trudeau pulls this sophomoric, political stunt for domestic consumption.”

Kudlow told Jake Tapper he likes Trudeau personally, but that the Canadian leader was trying to score political points in attacking Trump.

“Trudeau made an error. He should take it back. He should pull back on his statements,” Kudlow said.

[Politico]

Reality

Trump left the G-7 and did a news conference bashing Canada on trade. Then Trudeau did a news conference in which he said the same things about the steel/aluminum tariffs he’s been saying for a week.

They were not close to making a bilateral NAFTA deal. He’s just making things up.

Ah, Kudlow finally explains what’s going on here: “Now, POTUS is not gonna let a Canadian prime minister push him around, push him, POTUS, around, President Trump, on the eve of this — he is not going to permit any show of weakness on a trip to negotiate with North Korea.”

So…per the White House, Trump is insulting the prime minister of Canada because he wants to impress Kim Jong Un.

Trump Holds Solo News Conference, Defends Bashing Press

President Donald Trump stepped to the microphone alone Saturday to take reporters’ questions, just the second time he’d done so since taking office more than a year ago.

He talked about his desire for countries to remove all barriers to the free flow of goods. He looked ahead to the next big meeting on his schedule — a summit in Singapore next week with North Korea’s leader. Along the way, Trump bashed the U.S. press and defended why he does it.

“I’d like to ask you why you do that?” said a White House reporter from the news agency Agence France-Presse.

Trump, who is obsessed with his media coverage and has labeled the press “the enemy of the people,” defended the steady stream of attacks.

“Because the U.S. press is very dishonest. Much of it, not all of it,” Trump said. “Oh, I have some folks in your profession that are with the U.S., in the U.S., citizens, proud citizens; they’re reporters. These are some of the most outstanding people I know. But there are many people in the press that are unbelievably dishonest. They don’t cover stories the way they’re supposed to be. They don’t even report them in many cases if they’re positive. So there’s tremendous — you know, I came up with the term ‘fake news.’

“It’s a lot of ‘fake news,’ but at the same time I have great respect for many of the people in the press,” he said.

During an earlier point in the news conference, Trump referred to a CNN producer’s “fake friends at CNN.”

Unlike with a more formal news conference, typically announced days in advance, the White House gave journalists traveling with Trump little warning that he was coming to their workspace to make a statement and answer questions before leaving the Group of Seven summit in Quebec to fly to Singapore.

He answered questions from just the small group, or “pool,” of reporters who travel with him, not the much larger universe of reporters who cover the White House on a daily basis and would attend a less hastily arranged question-and-answer session.

Trump seems more fond of sparring with reporters when he can share the stage with a foreign counterpart, as he did this past week at the White House after meeting with Japanese Prime Minister Shinzo Abe, who had stopped in Washington to consult with Trump before the G-7 and the upcoming Kim summit.

The president has also been more open to answering questions during brief appearances at the White House, such as at bill-signing ceremonies or meetings with lawmakers, or on the South Lawn when he leaves or returns from an out-of-town trip.

Trump last appeared solo before reporters in February 2017, less than a month into his presidency. It was a rollicking, quickly arranged, 77-minute free-for-all in the stately East Room of the White House during which he railed against the news media, defended his fired national security adviser and insisted that no one who advised his campaign had had any contacts with Russia.

[The New York Times]

Trump blasts Macron, Trudeau ahead of G-7 summit

President Trump on Thursday lashed out at the leaders of France and Canada over roiling trade disputes, setting the stage for a confrontational Group of Seven summit of major economic powers.

A day before leaving for the meeting in Canada, Trump singled out French President Emmanuel Macron and Canadian Prime Minister Justin Trudeau on Twitter for threatening to isolate the U.S. over his efforts to change global trade rules.

“Please tell Prime Minister Trudeau and President Macron that they are charging the U.S. massive tariffs and create non-monetary barriers,” Trump wrote. “The EU trade surplus with the U.S. is $151 Billion, and Canada keeps our farmers and others out.”

The president added: “Look forward to seeing them tomorrow.”

The message shows the depth of Trump’s unhappiness about the summit, where he is expected to take major backlash over his trade policies.

Macron and Trudeau met in Ottawa, Canada, this week ahead of the summit and presented a united front against Trump’s tack toward protectionism.

Asked during a joint press conference if Trump does not care about “being isolated” from other world leaders, Macron responded, “Maybe, but nobody is forever.”

“The six countries of the G7 without the United States, are a bigger market taken together than the American market,” Macron said.

Macron threatened to sign a joint communique at the conclusion with the summit with five other nations — but not the U.S. — expressing their desire for free trade.

“The American President may not mind being isolated, but neither do we mind signing a 6 country agreement if need be,” he tweeted. “Because these 6 countries represent values, they represent an economic market which has the weight of history behind it and which is now a true international force.”

The president imposed steep steel and aluminum tariffs late last month on Canada, Mexico and the European Union — some of the U.S.’s closest allies.

The administration used a little-known legal provision that allows the president to unilaterally impose tariffs on those goods for national security reasons.

[The Hill]

Reality

U.S. goods and services trade with the EU totaled nearly $1.1 trillion in 2016.  Exports totaled $501 billion; Imports totaled $592 billion.  The U.S. goods and services trade deficit with the EU was $92 billion in 2016.

Kudlow: ‘Don’t blame Trump’ for the trade conflicts he created

Top White House economic advisor Larry Kudlow contended Wednesday that President Donald Trump should not be held responsible for mounting trade conflicts with American allies, as the president gets set to face world leaders angered by tariffs imposed by the U.S.

“Don’t blame Trump. Blame the nations that have broken away” from fair trade practices, he told reporters. The global trade system “is broken and President Trump is trying to fix it. And that’s the key point,” Kudlow added.

The National Economic Council director downplayed concerns about tensions with key American allies ahead of Trump’s trip to Canada at the end of the week for a summit with leaders of the Group of 7 economies. Trump recently imposed tariffs on steel and aluminum imports from countries including the other six members — Canada, France, Germany, Italy, Japan and the United Kingdom — prompting retaliatory measures against the U.S.

The developments have prompted concerns about a trade war that could damage the U.S. economy or cause frayed relations with allies. The tariffs have sparked backlash not only abroad but at home, where Trump is trying to stop an effort from free trade Republicans to push back against the measures. Both U.S. lawmakers and foreign officials have questioned Trump’s national security justification for imposing the tariffs.

Ahead of Trump’s G-7 meetings, Kudlow, a former CNBC senior contributor, downplayed the prospect of a “trade war” with allies — calling the tensions “disputes that need to be solved.” He said he hopes the summit, where Trump will have bilateral talks with Canadian Prime Minister Justin Trudeau and French President Emmanuel Macron, will lead to substantive discussions on trade.

Last week, the Trump administration said it would not exempt Canada, Mexico and the European Union from tariffs on steel and aluminum imports. The decision came as the U.S., Canada and Mexico have faltered in efforts to strike a revised North American Free Trade Agreement.

Trump has long pledged to crack down on what he calls unfair trade practices and bad trade deals. He contends foreign countries had punished U.S. companies and stolen jobs away from American workers — one component of the appeal that carried him to the White House. Ultimately, he wants to increase U.S. exports and reduce trade deficits.

While numerous Republicans who support Trump — and Democrats who typically do not — have backed tough responses to alleged trade abuses by China, the tariffs on the key American allies brought the harshest response yet to Trump’s trade actions both domestically and abroad. Trudeau reportedly said he wanted to have “frank” talks with Trump during the G-7 meetings.

Asked whether Trump had damaged relations with Canada, Kudlow answered that he was not worried about temporary tensions.

“I have no doubt the United States and Canada will remain firm friends and allies,” Kudlow said.

The White House economic advisor also denied reports that Treasury Secretary Steven Mnuchin pushed for a tariff exemption for Canada during a meeting this week. Kudlow said both he and the Treasury secretary attended the meeting and did not say a word.

The U.S. has also sought help from allies as it tries to reach a deal to reduce trade deficits with China and stop alleged theft of U.S. intellectual property by Chinese companies. The U.S. has reached neither a broad deal with China to avoid potentially damaging tariffs, nor an agreement to revive Chinese telecommunications company ZTE, according to Kudlow.

He said he believes the rest of the world agrees with Trump about Chinese trade practices.

[CNBC]

Trump invokes War of 1812 in testy call with Trudeau over tariffs

President Donald Trump and Canadian Prime Minister Justin Trudeau had a testy phone call on May 25 over new tariffs imposed by the Trump administration targeting steel and aluminum imports coming from Canada, including one moment during the conversation in which Trump made an erroneous historical reference, sources familiar with the discussion told CNN.

According to the sources, Trudeau pressed Trump on how he could justify the tariffs as a “national security” issue. In response, Trump quipped to Trudeau, “Didn’t you guys burn down the White House?” referring to the War of 1812.

The problem with Trump’s comments to Trudeau is that British troops burned down the White House during the War of 1812. Historians note the British attack on Washington was in retaliation for the American attack on York, Ontario, in territory that eventually became Canada, which was then a British colony.

When asked if the comment was received as a joke, one source on the call said: “To the degree one can ever take what is said as a joke. The impact on Canada and ultimately on workers in the US won’t be a laughing matter.”

The White House declined to comment and the National Security Council did not immediately return a CNN request for comment.

Asked about the state of US-Canada relations, National Economic Council Director Larry Kudlow acknowledged some short-term tensions, but said he believes relations between the two countries remain “very good.”

“I have no doubt that the United States and Canada will remain firm friends and allies whatever short-term disagreements may occur,” Kudlow said.

During the Burning of Washington, on August 24, 1814, first lady Dolley Madison famously rescued a portrait of George Washington before fleeing the White House.

Trudeau has publicly denounced the “national security” justification for the new tariffs.

“The idea that we are somehow a national security threat to the United States is, quite frankly, insulting and unacceptable,” Trudeau told NBC’s Meet the Press.

Canada’s Minister of Foreign Affairs Chrystia Freeland questioned the Trump administration’s move on CNN.

“And I would just say to all of Canada’s American friends — and there are so many — seriously? Do you really believe that Canada, that your NATO allies, represent a national security threat to you?” Freeland asked on CNN’s “State of the Union.”

Freeland met with Senate Foreign Relations Committee Chairman Bob Corker Monday to relay Canada’s concerns regarding the tariffs, a Corker spokeswoman told CNN.

Corker, whose state of Tennessee is home to foreign and domestic auto plants, questioned Trump’s national security justification in a statement last week.

“There is no reason to use this provision to consider imposing tariffs on the automobile industry, and this appears to be either an attempt to affect domestic politics ahead of the election or for some other transactional purpose regarding ongoing trade discussions. This is a dangerous course and should be abandoned immediately,” Corker said in the statement.

Trump defended his decision on tariffs on Canada and other US allies in a tweet over the weekend.

“The United States must, at long last, be treated fairly on trade,” the President tweeted on Saturday.

A senior administration official declined to discuss the specifics of Trump’s phone call with Trudeau but acknowledged some of the President’s conversations with his foreign counterparts on the subject of trade have been confrontational.

“It’s understandable that change causes friction,” the official said, noting some of Trump’s recent tariff announcements have brought stubborn trading partners back to the negotiating table.

Canadian officials confirm to CNN that months ago Trump personally assured Trudeau that Canada would likely be exempt from steel and aluminum tariffs. The Trump administration at one point granted Canada and Mexico a last-minute reprieve from tariffs in March as negotiations to rework the North American Free Trade Agreement, known as NAFTA, continued.

In April, Canada tried to address what Trump said were concerns about Chinese steel and aluminum being dumped into Canada and then being shipped into the United States.

Trudeau announced increased funding and border vigilance “to prevent transshipment and diversion of unfairly priced foreign steel and aluminum into the North American market,” according to a statement released in April.

It was the understanding of Canadians officials at the time that this would satisfy the Trump administration and allow for Canada to receive a permanent exemption from tariffs.

Just days before Trudeau is set to host a G7 Summit in Quebec, Canadian officials tell CNN they are just trying to “keep Trump happy.”

Asked about Trump’s remark that the Canadians burned down the White House, aides to the President and to Canada’s Trudeau declined to comment.

[CNN]

Reality

Canada wasn’t a country until 1840.

Trump falsely claims the US is ‘exporting energy for the first time’ — here’s the truth

Donald Trump told another lie in a briefing to FEMA, claiming that the United States is exporting energy for the first time.

“We’re now exporting energy for the first time. Never did it. Now we’re exporting energy,” he falsely claimed.

The New York Times broke down the lie, explaining that the U.S. has sent its coal, petroleum and other energy resources overseas for years. And the U.S. is not yet a net exporter that sends out more than it takes in—it may be by 2022, but is not yet.

“The United States is and has been a net energy exporter of coal since at least 1949. Conversely, the country has relied on foreign oil imports since the 1950s,” the paper writes.

In other words, nothing has changed except the political marketing of the situation.

[Raw Story]

 

Trump’s phone call with Macron described as ‘terrible’

A call about trade and migration between US President Donald Trump and French President Emmanuel Macron soured last week after Macron candidly criticized Trump’s policies, two sources familiar with the call told CNN.

“Just bad. It was terrible,” one source told CNN. “Macron thought he would be able to speak his mind, based on the relationship. But Trump can’t handle being criticized like that.”

A short White House readout of last Thursday’s call said the conversation was focused on trade and immigration.

“Both leaders discussed the migration problem in Libya, and timelines to solve it. President Trump underscored the need to rebalance trade with Europe,” the readout states.

The call came the same day the United States announced a unilateral decision to slap steel and aluminum tariffs on American allies, including Mexico, Canada, and the European Union.

In a statement issued by the Elysee Palace ahead of the call, Macron said he “regrets the US decision to confirm tariffs in steel and aluminum.”

“This decision is not only illegal, it is a mistake on many points. It is a mistake because it responds to a worldwide unbalance that exists in the worst ways through fragmentations and economic nationalism,” the statement continued, with Macron adding that “if these kind of things impacted our relations, it would have been the case since day one because he has decided to leave the Paris (climate) agreement.”

“I prefer to say things directly and not through the press; and I will tell him what I told you, which are my convictions that he knows already,” he said in the statement.

Thursday’s strained call is particularly notable because Macron is arguably the European leader to whom Trump is closest. In an interview with the BBC in January, Macron said he had a “very direct relationship” with his US counterpart.

“I’m always extremely direct and frank. He is. Sometimes I manage to convince him, and sometimes I fail,” Macron said at the time.

Trump can expect a similar call from British Prime Minister Theresa May on Monday, sources tell CNN. It’s not her style to be combative, but one source said May is expected to be direct in her criticisms and that Trump could expect a tough conversation.

[CNN]

Trump tears into Canada for treating U.S. farmers ‘very poorly’

President Donald Trump attacked Canada on Friday morning, seemingly offering a defense of the controversial tariffs he imposed this week and accusing America’s northern neighbor of treating U.S. agricultural industries “very poorly.”

“Canada has treated our Agricultural business and Farmers very poorly for a very long period of time. Highly restrictive on Trade!” the president wrote on Twitter. “They must open their markets and take down their trade barriers! They report a really high surplus on trade with us. Do Timber & Lumber in U.S.?”

Trump has made resetting U.S. trade relationships around the globe a key priority for his administration, most notably with China, but also with top U.S. allies and trade partners like Mexico and Canada. He has complained previously about Canada’s treatment of the U.S. lumber and dairy industries, among others.

His attack against Canada came just hours after tariffs on imports of steel and aluminum from three key U.S. trade partners — Mexico, Canada and the European Union — went into effect at midnight Friday, after the administration said on Thursday that exemptions would not be extended.

Canadian Prime Minister Justin Trudeau offered a blistering rebuke to Trump during a news conference on Thursday.

“Let me be clear: These tariffs are totally unacceptable,” Trudeau said. “Canadians have served alongside Americans in two world wars and in Korea. From the beaches of Normandy to the mountains of Afghanistan, we have fought and died together.”

The tariffs have proved to be a controversial step that has also drawn the ire of prominent Republicans who have long supported free trade policies.

House Speaker Paul Ryan (R-Wis.) said in a statement that “I disagree with this decision” and that “instead of addressing the real problems in the international trade of these products, today’s action targets America’s allies when we should be working with them.” Sen. Ben Sasse (R-Neb.), a regular and outspoken critic of the president’s, said the tariffs were similar to the policies that he said sparked the Great Depression.

“This is dumb. Europe, Canada, and Mexico are not China, and you don’t treat allies the same way you treat opponents,” Sasse said. “‘Make America Great Again’ shouldn’t mean ‘Make America 1929 Again.’”

[Politico]

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