Canadian dollar lower after Trump attacks Trudeau over tariffs

Donald Trump

Donald Trump

After a trade advisor to Donald Trump indicated there's a "special place in hell" for the likes of Canada's Prime Minister, a top European Union (EU) official shot one back at the US administration by using the US President's favourite medium, Twitter.

"Canadians are polite, we're reasonable, but we also will not be pushed around", Mr Trudeau said.

Speaking at a post-summit press conference, Trudeau acknowledged that there were major differences with Trump.

The Canadian dollar fell as much as 0.6% against the greenback in early Asian trading on Monday as dealers responded to the G7 meeting and its aftermath. The president could have said that. "While sending their product into our country tax-free".

"For Canadians who ... stood shoulder to shoulder with American soldiers in far-off lands and conflicts from the First World War onward.it's kind of insulting", Trudeau said.

On June 7 - the eve of Trudeau's G7 summit - Trump sends out another missive - "Prime Minister Trudeau is being so indignant, bringing up the relationship that the USA and Canada had over the many years and all sorts of other things. but he doesn't bring up the fact that they charge us up to 300% on dairy - hurting our Farmers, killing our Agriculture!" "$800 Billion Trade Deficit ..." At one point he wrote, "Justin acts hurt when called out!"

Other Trump advisers also attacked Trudeau in TV appearances on Sunday. He did him a favor and he was even willing to sign that socialist communique. Trudeau's office, in turn, said what the Canadian leader said on Saturday was nothing new. Trudeau stuck our president in the back. As Trump had already left the G-7 summit and was on his way to Singapore for his upcoming meeting with North Korean leader Kim Jong Un, Trudeau gave a press conference in which he went to great lengths to not offend Trump. "Kim must not see American weakness".

Kudlow said Trudeau had engaged in a "a sophomoric political stunt for domestic consumption" and should apologise.

Merkel described Trump's decision to withdraw his approval of the joint communique following the G7 summit in Canada as a "sobering experience".

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The centre-right leader said a tariff-free area among G7 allies would be an ideal outcome, but she made clear that any talks about such a trade bloc would have to include non-tariff barriers to trade as well as free access to public tenders.

"We spend two days working out a (joint) statement and commitments". France warned that "fits of anger" could not dictate worldwide cooperation.

"International cooperation can not depend on being angry and on sound bites".

What was in the communique?

The G7 leaders issued a joint pledge on Sunday to combat protectionism and cut trade barriers after two days of often fierce arguments between the United States and both the summit hosts and Europe. From promoting democracy and to fighting terrorism, "we're on the same page".

"We urge Russian Federation to cease its destabilising behavior, to undermine democratic systems and its support of the Syrian regime". Freeland later told reporters that "we don't think that's a useful or productive way to do business". I mean we have China where this is completely different because tariffs are a national security issue. She also said that Europe will not let itself be "deceived" again.

Echoing Merkel's sentiments, French President Emmanuel Macron's office said that "international cooperation can not depend on fits of anger and a few words", according to a statement published by French public broadcaster RFI.

"Why should I, as President of the United States, allow countries to continue to make Massive Trade Surpluses, as they have for decades, while our Farmers, Workers & Taxpayers have such a big and unfair price to pay?" he tweeted.

"We asked him about that", she told Anne Will, adding that his answers "did not sound convincing" to her.

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