Canada announced on Sunday a new 25% tariff on assorted US metals products. A 10% tariff on another 250 products such as beer kegs, orange juice, and whiskey was also confirmed. The tariffs are the culmination of increased trade tensions between the US and Canada over the last few months.
US president Donald Trump and Russian president Vladimir Putin will hold a summit in Finland on July 16th. This will be the first time that Trump and Putin will be meeting at a summit. Both world leaders had rubbed shoulders on the sidelines of major gatherings in the past.
President Donald Trump confirmed on Saturday that he will be pulling out of G7’s statement of common values. Trump accused Canadian Prime Minister Justin Trudeau of making “false statements.” Canada was the host of the G7 summit this year.
President Donald Trump could plunge the U.S. into a trade fight with Europe. The president is racing against a self-imposed deadline to decide whether to permanently exempt the European Union and other six US allies from the tariffs or not.