Skepticism about U.S. Trade Policy May Remain after G-7 Summit

Taormina, Italy, May 27 (Jiji Press)--Skepticism may remain about the trade policies of the administration of U.S. President Donald Trump after a Group of Seven summit ended in Taormina, Italy, on Saturday. The G-7 leaders narrowly avoided falling apart on their approach to trade after Trump dropped his opposition at the last moment to including a commitment to fight protectionism in their summit declaration, sources familiar with their discussions said. As a result of the compromise, the leaders said in the declaration, "We reiterate our commitment to keep our markets open and to fight protectionism, while standing firm against all unfair trade practices." They added, "We acknowledge that free, fair and mutually beneficial trade and investment, while creating reciprocal benefits, are key engines for growth and job creation. The G-7 groups Canada, Britain, France, Germany, Italy, Japan and the United States. But a Japanese trade official said: "Trump actually has not changed his mind. The Trump administration is expected to maintain its unilateral trade policy." The skepticism grew at the first-day session on Friday in which Trump called on his G-7 counterparts to lower tariffs or face retaliatory steps, in defiance of the seven countries' years-long pledge to flight protectionism. Japan, which launched a new economic dialogue with the United States last month, and Canada, which faces a renegotiation of the North American Free Trade Agreement with the United States and Mexico, are concerned about Trump's trade policies. Trump's criticism of Germany's trade surplus with the United States has also raised tensions between him and European leaders. The rift between the United States and the other G-7 countries may weaken the group's clout on global affairs, leaving the course of the global economy uncertain. END