Defiant Trump Ignites Trade War with Canada and G-7 Allies
June 13, 2018
Citing national security issues to get around WTO rules, Trump ordered tariffs of 25 percent on steel and 10 percent on aluminum imports from Canada and EU countries. William Black and Gerald Epstein discusses the implications of these tariffs on the different economies.
The 44th G7 summit was held on June 8–9, 2018, in La Malbaie, Quebec, Canada. This was the sixth time since 1981 that Canada has hosted the meetings.
Courtesy: The Real News
The Group of Seven (G7) is a group consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and theUnited States. These countries, with the seven largest advanced economies in the world, represent more than 62% of the global net wealth ($280 trillion). The G7 countries also represent more than 46% of the global gross domestic product (GDP) based on nominal values, and more than 32% of the global GDP based on purchasing power parity. The European Union is also represented at the G7 summit. (Wikipedia)