Trump’s trade rupture gains momentum
The G7 summit in Canada is already being described as ‘six-plus-Trump’ due to his tariff strategy
To Canada, where the Group of Seven meets to contemplate the implications of Donald Trump’s tweets for the global economy.Trump, who tweeted on Monday that he had the right to pardon himself in the event that he is found guilty of criminal action, set the tone for the summit by imposing heavy trade tariffs on Canada and European countries.But the self-pardoning malarkey was just a distraction from Trump’s relentless effort to make everyone in the world hate him with equal venom.Tariffs imposed on China, it turns out, were just the first salvo in a trade war that affects all continents. SA’s steel industry has already felt the effects.When the first round of tariffs was imposed, Canada and European countries were exempted. But that was only temporary.Now the EU and Canada have been hit by tariffs on steel and aluminium on top of the US decision to unilaterally bin the Iran nuclear deal against the advice of European allies.The G7 summit is already being described as "six-plus-Trump"....
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