G7 says to fight protectionism, cut barriers after summit

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G7 leaders issued a joint pledge today to combat protectionism and cut trade barriers as they wrapped up a fractious summit in Canada soured by a row over the US imposition of tariffs on its allies.
After two days of often fierce arguments between the United States and both the summit hosts and Europe, the organisation issued a joint statement which attempted to paper over their cracks.
But the attempts to convey at least a semblance of unity were undermined when Canada's Prime Minister Justin Trudeau confirmed he was going ahead with his tariffs against the US in response to US moves against his country's steel and aluminium industries.
The eight-page statement also included joint commitments to ensure that Iran will "never seek, develop or acquire a nuclear weapon" as well as demands for Russia to stop undermining Western democracies.
There was also an agreement to disagree on climate change in the wake of Trump's decision to leave the Paris climate accord last year which further underlined the divide between the Group of Seven's powerhouse and its six co-members.
During the summit, Trump was accused of seeking to undermine the "rules-based" international order but the final statement began by stressing "the crucial role of a rules-based international trading system" as well as a commitment to "continue to fight protectionism."
And he said he told Trump "it would be with regret but it would be with absolute clarity and firmness that we move forward with retaliatory measures on July 1, applying equivalent tariffs to the ones that the Americans have unjustly applied to us."
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First Published: Jun 10 2018 | 3:20 AM IST