The 7 countries with the most advanced economies in the world met at the 44th G7 Summit at Charlevoix, Province of Quebec, Canada.
As I was reading financial news from Anz Share Investing, this news grabbed my attention immediately.
Because after all the talk and announcements of tariffs on imports, from United States President Trump, he suddenly declares to the group of G7 leaders, “Let’s drop tariffs, barriers and subsidies between the 7 of us.”
But just behind that statement, Trump said that if partners do not reform their trade practices, they just may not have access to U.S. markets.
So the world is asking, “Is the United States President teasing?”
It seems G7 leaders are reeling in Trump confusion.
When the meeting started, the leaders were discussing about Trump’s recent comment about readmitting Russia into the G7. So naturally, the group was in an irritated state of talks.
And then President Trump mentioned that partners such as Canada and the United Kingdom should stop their “brutal” trade policies with the U.S. or “It’s going to stop or we will stop trading with them,” he said. “And that’s a very profitable answer if we have to do it.”
From what is being said, Trump felt that the meetings thus far had went great while other leaders are in a tizzy on whether to take the leader serious about the no tariff statement.
Could the G7 Summit cause market turmoil?
It is hard to read what will happen with the market this coming week as a result of this G7 Group meeting.
Much of it is dependent on President Trumps next Tweets and the actions of the other G7 nation (which is actually 8) leaders:
- Canada – Prime Minister Justin Trudeau
- European Union – Council President Donald Tusk, Commission President Jean-Claude Juncker
- France – President Emmanuel Macron
- United Kingdom – Prime Minister Theresa May
- Germany – Chancellor Angela Merkel
- Japan – Prime Minister Shinzō Abe
- Italy – President of the Council Giuseppe Conte
And to add to the anger, President Trump left early Saturday before addressing what this year’s Summit was supposed to attack… Environmental Issues.
What will be the outcome?
Will this shake the markets?
Thanks to Anz Share Investing, we are keeping a close eye on developments from the G7 Summit.