Short G7 statement reflects divisions
Print Edition
FRANCE yesterday issued a short statement at the end of a meeting of G7 leaders on several issues, but it was not a communique along the lines of those usually drawn up at the annual summit, reflecting divisions.
The statement said the seven industrialized nations were committed to open and fair world trade and to global economic stability. It said they wanted significant changes to the World Trade Organization to make it more efficient in protecting intellectual property, resolving disputes more quickly and eradicating unfair trade practices.
French President Macron said an agreement between US and China, which have been locked in trade tensions for over a year, would help dispel uncertainty that has been weighing on global markets. He said Trump had told other G7 leaders that he wanted to strike a deal with China.
Macron, the summit host who joined Trump at the top of the news conference in Biarritz, France, said the situation has created economic uncertainty and urged both sides to reach an agreement.
“What’s bad for the world economy is uncertainty,” Macron said, speaking in English.
“The quicker an agreement is arrived at, the quicker that uncertainty will dissipate.”
British Prime Minister Boris Johnson, tried to sell the president on the value of free trade when they met over Saturday breakfast.
“We’re in favor of trade peace,” Johnson said.
German Chancellor Angela Merkel, who met with Trump at the G7, also said it was in everyone’s interest for China and the United States to reach a deal.
Japanese Prime Minister Shinzo Abe said yesterday stable relations between the United States and China are “very important” not just for these economies, but for the sake of the global economy.
“I hope there will be good results from US-China trade negotiations that will help stabilise the global economy,” Abe said.
“We will guide economic policy with an eye on the impact (the US-China trade tensions) could have on Japan’s economy,” he said.
Abe also said he agreed with US President Donald Trump to speed up work to aim for signing a bilateral trade deal by the end of September.
Trump yesterday said that the United States would not imminently impose new tariffs on autos imported from Japan.
Trump was asked if he was still considering the levies, which he can institute under US trade law if his administration finds that the imports threaten national security. “Not at this moment, no, not at this moment,” Trump said. “It’s something I could do at a later date if I wanted to but we’re not looking at that.”
The United States and Japan reached a broad framework of a trade agreement last week, with Tokyo making concessions on agriculture but Washington maintaining current auto tariffs.
Trump told the press conference that the possibility of the tariffs was “one of the reasons we made a deal.”
The US President also said that he is open to a France-proposed meeting with his Iranian counterpart Hassan Rouhani “if the circumstances are right.”
“In the meantime, they have to be good players,” Trump said.
The meeting was proposed by Macron, who said the Iranian President too was open to a meeting with Trump.
Denouncing again the “very bad deal” reached in 2015 with Tehran, Trump added that the G7 was working on a long-term agreement that guarantees that Iran does not acquire either nuclear weapons or ballistic missiles. “I think he’s going to want to meet. I think Iran wants to get this situation straightened out...They’re really hurting badly,” said Trump.
“I’m looking at a really good Iran, really strong, we’re not looking for regime change. We are looking for no nuclear weapon, no ballistic missiles, very simple,” added Trump.
“I wish a meeting between the two presidents in the coming weeks,” said Macron.
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