Both German Chancellor Angela Merkel and French President Emmanuel Macron confirmed Saturday that the G7 members, including the United States, will sign a joint declaration outlining reduced tariffs for all members.
The announcement comes on the heels of President Trump’s early departure from the summit, where he maintained a hard-line stance on his steel and aluminum tariffs and reversing the U.S.’ trade imbalances with its allies.
Still, Trump did state at his Saturday morning press conference that, ultimately, his free trade hope for the international community would be to do away with all tariffs and other trade barriers.
“For us, it was important that we have a commitment to a rule-based trade order, that we continue to fight against protectionism and that we want to reform the World Trade Organization,” Merkel said of the declaration later Saturday afternoon.
“These are jointly shared principles, although the pitfalls lie in the detail,” she added on the stated goal of reducing tariffs among G7 members.
President Macron further called the agreement “good news and it marks a collective desire to stabilize things.”
“Nevertheless, I do not consider that with a declaration all is obtained and it is obvious that we will have in the coming weeks, the next months, to continue to work.”
Canadian Prime Minister Justin Trudeau confirmed that President Trump had agreed to the communique before departing for Singapore Saturday morning.
Despite signing the agreement, President Trump tweeted during his flight to Singapore that, “the United States will not allow other countries to impose massive Tariffs and Trade Barriers on its farmers, workers and companies. ”
“While sending their product into our country tax free. We have put up with Trade Abuse for many decades — and that is long enough,” he added.
The United States will not allow other countries to impose massive Tariffs and Trade Barriers on its farmers, workers and companies. While sending their product into our country tax free. We have put up with Trade Abuse for many decades — and that is long enough.
— Donald J. Trump (@realDonaldTrump) June 9, 2018
