Trump throws G-7 into disarray with tweets after he leaves

Agencies
June 10, 2018

La Malbaiel, Jun 10: ashing out at the longtime U.S. ally and northern neighbor, President Donald Trump tweeted that Canadian Prime Minister Justin Trudeau is “dishonest & weak” and that the U.S. was pulling back its endorsement of the G-7 summit’s communique in part because of what he called Mr. Trudeau’s “false statements” at a news conference.

In an extraordinary set of tweets aboard Air Force One, on its way to Singapore for Tuesday’s summit with North Korea’s Kim Jong Un, Mr. Trump threw the G-7 summit into disarray on Saturday and threatened to escalate his trade war just as Canada released the G-7’s official communique. Its statement took a generally positive view of the leaders’ positions on trade matters while acknowledging tensions with the U.S.

A few hours earlier, Mr. Trudeau had told reporters that all seven leaders had come together to sign the joint declaration.

Mr. Trump tweeted- “Based on Justin’s false statements at his news conference, and the fact that Canada is charging massive Tariffs to our U.S. farmers, workers and companies, I have instructed our U.S. Reps not to endorse the Communique as we look at Tariffs on automobiles flooding the U.S. Market!”

In a statement, a spokesman for Mr. Trudeau did not address Mr. Trump’s insults. “We are focused on everything we accomplished here at the “G7 summit,” spokesman Cameron Ahmad said. “The Prime Minister said nothing he hasn’t said before both in public, and in private conversations with the President.”

Mr. Trump’s personal attack on Mr. Trudeau is unprecedented in the countries’ longstanding relationship.

As he exited the world summit, Mr. Trump had delivered a stark warning to America’s trading partners not to counter his decision to impose tariffs on steel and aluminum imports. But the summit host, Mr. Trudeau, whose nation was among those singled out by Mr. Trump, pushed back and said he would not hesitate to retaliate against his neighbor to the south.

“If they retaliate, they’re making a mistake,” Mr. Trump declared before departing the annual Group of Seven summit, which includes Britain, Italy, France, Germany and Japan.

Mr. Trudeau later said he reiterated to Mr. Trump that tariffs will harm industries and workers on both sides of the U.S.-Canada border. He said unleashing retaliatory measures “is not something I relish doing” but that he wouldn’t hesitate to do so because “I will always protect Canadian workers and Canadian interests.”

“As Canadians, we are polite, we’re reasonable, but also we will not be pushed around,” Mr. Trudeau said.

Despite the sharp differences, Mr. Trudeau said all seven leaders had come together to sign a joint declaration despite having “some strong, firm conversations on trade, and specifically on American tariffs.”

Mr. Trump himself insisted relationships with allies were a “ten” just before he left the summit. But Mr. Trump’s abbreviated stay at this Quebec resort saw him continuing the same type of tough talk on trade as when he departed the White House, when he accused Mr. Trudeau of being “indignant.”

The summit came during an ongoing trade dispute with China and served as a precursor to the unprecedented meeting with Mr. Kim, in which Mr. Trump has sought to extend a hand to the Asian autocrat who has long bedeviled the international order.

“His message from Quebec to Singapore is that he is going to meld the industrial democracies to his will and bring back Russia,” said Steve Bannon, Mr. Trump’s former campaign and White House adviser. Mr. Bannon said China is “now on notice that Trump will not back down from even allies’ complaints in his goal of ‘America First.’”

Speaking on Saturday during a rare solo news conference, Mr. Trump said he pressed for the G-7 countries to eliminate all tariffs, trade barriers and subsidies in their trading practices. He reiterated his longstanding view that the U.S. has been taken advantage of in global trade, adding, “We’re like the piggy bank that everybody’s robbing, and that ends.”

Mr. Trump cited progress on reaching an agreement on the North American Free Trade Agreement with Canada and Mexico, saying the final outcome would lead either to an improved trade deal or separate pacts with the two U.S. neighbors. Mr. Trump said he was discussing two types of sunset provisions in which any of the countries could leave the deal. A Canadian official said the leaders discussed accelerating the pace of the talks.

But Mr. Trudeau objected strenuously to a sunset clause of any length. “If you put an expiry date on any trade deal, that’s not a trade deal. That’s our unequivocal position,” he said.

Prior to his arrival on Friday, the president injected additional controversy by suggesting that the G-7 offer a seat at the table to Russia, which was ousted from the group in 2014. Mr. Trump said on Saturday that re-admitting Russia to the elite club would be “an asset,” telling reporters, “We’re looking for peace in the world.” Mr. Trump said he had not spoken with Russian President Vladimir Putin in a while.

Discussing Russia’s absence, Mr. Trump made the vague comment that “something happened a while ago where Russia is no longer in. I think it would be an asset to have Russia back in.” In fact, Russia was expelled from what was then the G-8 after it invaded and annexed Crimea and for its support for pro-Russia separatists in Ukraine.

Mr. Trump placed the blame on his predecessor, President Barack Obama. “He was the one who let Crimea get away that was during his administration,” he said, adding- “Obama can say all he wants, but he allowed Russia to take Crimea. I may have had a much different attitude.”

It was not clear what Mr. Trump thought Mr. Obama should have done to prevent Mr. Putin from sending in Russian troops to seize the Black Sea peninsula from neighboring Ukraine.

Mr. Trudeau said he told Mr. Trump that readmitting Russia “is not something that we are even remotely looking at at this time.”

Mr. Trump departed the annual G-7 gathering after arriving late to a breakfast on gender equity and skipping later sessions on climate change, clean energy and ocean protection.

Mr. Trump’s recent moves, building on 18 months of nationalist policy-making, left him out of step with the globally minded organization and prompted speculation that the group could fracture into something more like the “G-6 plus one.”

A key question was whether the seven countries could agree on a joint statement of priorities at the conclusion of the meeting. Mr. Macron said Thursday on Twitter, “The American President may not mind being isolated, but neither do we mind signing a 6 country agreement if need be.” Mr. Trump said on Friday he thinks the group will produce a joint statement.

In public, Mr. Trump bantered easily with his fellow leaders, but the meeting came at a tense moment in the relationships, with allies steaming over Mr. Trump’s new tariffs on imported steel and aluminum from Canada, Mexico and the European Union.

French President Emmanuel Macron said he and Mr. Trump had “open and direct” discussions, adding that he thought there was a way to get a “win-win” outcome on trade. Details remained unclear.

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News Network
February 3,2020

Bengaluru, Feb 3: India's manufacturing activity expanded at its quickest pace in nearly eight years in January with robust growth in new orders and output, a private survey showed on Monday, suggesting the economy may be getting back on firmer footing.

In response to the jump in sales, factories hired new workers at the fastest rate in more than seven years.

If sustained, the improvement in business conditions could point to a gradual economic recovery in coming months, as forecast by analysts in a Reuters poll last month, after growth slowed to a more than six-year low in the July-September quarter.

The Nikkei Manufacturing Purchasing Managers' Index , compiled by IHS Markit, jumped to 55.3 last month from 52.7 in December. It was the highest reading since February 2012 and above the 50-mark separating growth from contraction for the 30th straight month.

"The PMI results show that a notable rebound in demand boosted growth of sales, input buying, production and employment as firms focused on rebuilding their inventories and expanding their capacities in anticipation of further increases in new business," Pollyanna De Lima, principal economist at IHS Markit, said in a news release.

A new orders sub-index that tracks overall demand hit its highest level since December 2014 and output grew at its fastest pace in over seven and a half years, pushing manufacturers to hire at the strongest rate since August 2012.

Meanwhile, both input costs and output prices rose at a slower pace, indicating overall inflation may have eased after hitting a more than five year high of 7.35% in December, although probably not below the Reserve Bank of India's medium-term target of 4%.

That might keep the central bank, which cut its key interest rate by a cumulative 135 basis points last year, on the sidelines over the coming months.

"To complete the good news, there was also an uptick in business confidence as survey participants expect buoyant demand, new client wins, advertising and product diversification to boost output in the year ahead," added De Lima.

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News Network
March 3,2020

New Delhi, Mar 3: Delhi's Tihar Prison authorities had made all necessary preparations for the hanging of four convicts in the Nirbhaya gangrape-and-murder case which was scheduled for Tuesday, officials said Monday.

However, on Monday evening, a city court deferred the hanging till further orders.

Postponing the execution, Additional Sessions Judge Dharmender Rana said the hanging cannot be carried out pending disposal of Pawan Gupta's mercy plea before the President, observing any condemned convict must not meet his "Creator" with grievance against courts for not acting fairly on the opportunity to exhaust legal remedies.

"We had made all the necessary arrangements for the execution of the four convicts which was scheduled for Tuesday at 6 AM. Now, the execution has been postponed and we are waiting for the further order by the court," a senior jail official said.

The hanging of the four men -- Mukesh Kumar Singh (32), Vinay Kumar Sharma (26), Akshay Kumar Singh (31) and Pawan -- who are lodged in Tihar jail, was fixed for March 3 in Tihar jail on a court order.

"We had checked the ropes. Hangman was called and dummy executions were carried out," another senior jail official said.

Barring Pawan, the other three had in the previous weeks moved curative petitions and mercy pleas which were all dismissed.

The first date of execution -- January 22 -- fixed on January 7 was postponed by the court to February 1. But on January 31, the court indefinitely postponed the hanging. On February 17, the court again issued fresh date for execution of death warrants for March 3 at 6 AM.

The court in its orders observed that the four convicts cannot be hanged since a mercy plea of one or the other convict was pending.

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News Network
May 17,2020

New Delhi, May 17: Spelling out the government’s fourth tranche of initiatives towards achieving Prime Minister Narendra Modi’s vision of ‘Atmanirbhar Bharat’, Union Finance Minister Nirmala Sitharaman on Saturday announced significant structural reforms in eight sectors of the economy — coal, minerals, defense production, aviation, power distribution in Union territories, space and atomic energy.

Addressing her fourth and the second-last press conference, Sitharaman said crucial sectors such as coal production and exploration, defence production and space would see an increased participation from private entities.

Coal sector:

In the realm of coal exploration, the government has decided to liberalise the entry norms for private entities, which would mean that any interested party could bid for a coal block and sell it in the open market. The minister said that the government would do away with all the eligibility conditions at the time of bidding for a coal block, except requiring an “upfront payment with a ceiling.”

Nearly 50 coal blocks would be offered to private players immediately, revealed Sitharaman.

She further said that Rs 50,000 crore would be spent by Centre in creating ‘coal evacuation’ infrastructure, which would expedite the transport of mined product to the destination.

Defence sector:

In defence production, Sitharaman revealed that the government would raise the foreign direct investment (FDI) limit in the sector from current 49 per cent to 74 per cent. Further, the government would also work towards corporatising the ordnance factory boards. “Corporatising doesn’t amount to privatization,” added Sitharaman.

In a bid to boost indigenous production of defence products and gave an impetus to Make in India, Sitharaman said that the government was in a process of notifying a list of weapons/platforms for an import ban with year-wise timelines.

These decisions would also help in reducing huge import bills, the finance minister said.

Privatisation of electricity:

In another announcement that could have an effect on electricity charges in the union territories, Union Finance Minister Nirmala Sitharaman announced on Saturday that power departments and utilities in all the centrally administered territories would be privatised.

Sitharaman said that the proposed move would lead to better service to consumers and improvement in operational and financial efficiency in distribution.

The finance minister said that decision was guided by 'sub-optimal' utilisation of performance of power distribution and supply'.

She said that the move to that effect would provide a model for emulation by other utilities across the country, in what could be an indicator of what's in the pipeline for utilities in other states as well.

Sitharaman said that the privation reform was in line with the tariff policy reforms and would help in enhancing consumer rights, promote industry and improve the overall sustainability of the sector.

Space sector:

Sitharaman also announced the opening up of the space exploration sector for private players. Till date, the government-run Indian Space Research Organisation (ISRO) has held a monopoly on all activities concerning space exploration and satellite launches.

The Indian private sector will be a co-traveller in India's space sector journey, said Sitharaman, while announcing a series of structural reforms in eight crucial areas of the economy. The Union Finance Minister was addressing her fourth press conference in as many days, as a follow-up towards realising Prime Minister Narendra Modi's vision of 'atmanirbhar Bharat', which was spelled out in his video address on May 12.

Sitharaman said that the reforms in the space sector will provide a level-playing field for private companies in satellite launches and space-based services.

She said that the private sector would be allowed to use ISRO facilities and other assets to improve their capacities. Stating that the government would provide predictable policy and regulatory environment to private players, Sitharaman also disclosed that future projects for planetary exploration and outer space travel among others would be opened up for private entities.

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