Wednesday, 5 July 2017

Wonkbook: At G-20 summit, it looks more and more like Trump against the world

By Damian Paletta and Ana Swanson President Trump and key g... | Sponsored by American Wind Action
 
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European Council President Donald Tusk, German Chancellor Angela Merkel, President Trump, French President Emmanuel Macron and Japanese Prime Minister Shinzo Abe walk in Taormina, Sicily, Italy on May 26. REUTERS/Jonathan Ernst/File Photo

By Damian Paletta and Ana Swanson

President Trump and key global leaders are on a collision course ahead of the G-20 summit in Germany this week, with Trump's unapologetic "America First" mantra on trade and climate change running into emboldened, and increasingly united, opposition overseas.

Trump reiterated his threats on Wednesday to pull the United States back from existing trade deals, arguing they were against the national interest. As Trump threatens to retreat from global trade, other world powers are exploring new economic ties.

The European Union and Japan are expected on Thursday to announce plans for a major new free trade agreement. The EU-Japanese deal, which has only been negotiated in broad terms thus far, would lower barriers to exports of cars flowing in both directions, as well as reduce Japanese barriers to imports of trains and agricultural products, including cheese and chocolate, according to media reports. It would create a free trade area similar in size to North America, which is linked by the 1994 NAFTA agreement.

If completed, the E.U.-Japan trade deal would be a sign of other top economies adjusting to a new world order in which they attempt to work around the United States instead of looking to it for direction.

Read the rest on Wonkblog.


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