BIARRITZ, France (AP) – The Latest on President Donald Trump at the Group of Seven summit. (all times local):
White House economic adviser Larry Kudlow says President Donald Trump is not having second thoughts about hiking tariffs on China, a move that further escalated the trade war that is rattling financial markets worldwide.
Trump, at an economic summit in France, seemed to say Sunday that he had second thoughts about fueling the trade war with China. But Kudlow says the only second thought the president had was that he didn’t raise the tariffs higher than he did.
Last week, Beijing slapped new tariffs on $75 billion in American goods. Kudlow says China’s retaliatory action was a “moderate action” and Trump took a “measured, proportionate” action in response by increasing tariffs by 5 percentage points on Chinese goods.
President Donald Trump says that the U.S. and Japan have agreed in principle on a new trade agreement.
Trump and Japanese Prime Minister Shinzo Abe are discussing the proposed pact as part of the annual Group of Seven summit taking place Sunday.
Trump said the two sides have agreed on every point and hope to sign the agreement next month. The two leaders are not going into many details of the pact, but the U.S. is seeking to increase agricultural exports to Japan such as beef, pork and corn.
Trump says Japan is expected to make large purchases of corn as part of the agreement.
Abe says there is still some work left to do, but says the proposal would have “immense positive impacts” on the economies of both the U.S. and Japan.
The Trump administration is looking to highlight progress on trade amid tensions with China.
The White House says President Donald Trump’s only regret in escalating the trade war with China was in not being more aggressive.
Press secretary Stephanie Grisham says Trump was “greatly misinterpreted” earlier Sunday when he was asked if he had any second thoughts about escalating the trade war with China. Trump responded to reporters “Yeah. For sure,” adding he has “second thoughts about everything.”
But Grisham says “President Trump responded in the affirmative – because he regrets not raising the tariffs higher.”
Trump is facing pressure from allies at the Group of Seven summit in France to reduce, not escalate, tensions with China due to the softening global economy.
President Donald Trump says he’ll probably meet again with North Korean leader Kim Jong Un to discuss Pyongyang’s nuclear weapons program.
The two met in Singapore and Hanoi and had a brief chat recently at the Demilitarized Zone between North and South Korea. When asked at the G-7 summit in France about meeting Kim again, Trump said Sunday: “Probably have one more.”
The U.S. and North Korea haven’t reached an agreement for Kim to give up his nuclear weapons in exchange for an easing of economic sanctions. North Korea said Sunday that Kim supervised a test-firing of a “newly developed super-large multiple rocket launcher” – another demonstration of its expanding weapons arsenal.
Trump says he’s not happy about the tests. Japanese Prime Minister Shinzo Abe said he believes the North’s recent tests violate U.N. resolutions.
President Donald Trump and Canadian Prime Minister Justin Trudeau are discussing the new North American free trade agreement as they meet on the sidelines of the Group of Seven summit in France.
The two countries and Mexico agreed last year to modify the existing accord with what they termed the U.S.-Mexico-Canada Agreement, or USMCA. All three nation’s legislatures must first approve the long-sought modernization of the 1990s trade agreement before it can go into effect.
Trump says the trade relationship between the U.S. and Canada will be significantly expanded when USMCA is completed. He adds, “I think it’s a very special agreement.”
Securing approval for USMCA in Congress is Trump’s top legislative priority for the year. Democrats are seeking changes designed to ensure the enforcement of the pact’s labor and environmental standards.
President Donald Trump is disputing statements by the French government that the Group of Seven nations agreed to empower French President Emmanuel Macron to send a message on behalf of the advanced democracies to Iran.
Asked if he signed onto the message, Trump told reporters, “I haven’t discussed that.”
The French presidency said earlier Sunday that the leaders of the G-7 countries agreed to allow French President Emmanuel Macron to address a message to Iran in their name and to hold talks with Iranian officials.
No details were provided on the message but the French presidency said the goal is to prevent Iran from getting nuclear weapons and avoid further escalating tensions in the Middle East.
Trump says during a bilateral meeting with Japanese Prime Minister Shinzo that he’s not stopping any leader from talking with Iran, noting Abe’s recent outreach. He says: “If they want to talk, they can talk.”
President Donald Trump says he has confidence in new British Prime Minister Boris Johnson to carry out Brexit talks with the European Union.
Speaking to reporters during their first meeting since Johnson’s elevation to the post, Trump says of Johnson and the talks: “He needs no advice. He’s the right man for the job.”
Johnson faces what he called “tough talks” in the weeks and months ahead with the EU as they hurtle toward a no-deal exit in October. He joked to Trump that “you’re on message there.”
Trump also appeared to speak disapprovingly of Theresa May, Johnson’s predecessor, saying approvingly that the new prime minister is “a different person.” Trump frequently criticized May’s handling of the talks.
Trump promised that he and Johnson would work out “a very big trade deal” between their two nations once the United Kingdom leaves the EU.
President Donald Trump says he has “second thoughts about everything” when asked if he regrets escalating a trade war with China.
Trump tells reporters at the Group of Seven summit that “we’re getting along well right now with China” despite dueling barrages of tariffs issued Friday and a new threat to try to force U.S. businesses to leave China.
Trump appeared to be trying to de-escalate tensions with China over concerns that a global economic slowdown could be spreading to the U.S.
Trump was meeting with British Prime Minister Boris Johnson, who has said one of his messages to Trump was to de-escalate the trade war. During their breakfast meeting he advocated for free trade, saying the U.K. has benefited from it for over 200 years.
President Donald Trump says it’s “possible” he will invite Russia to rejoin the annual meeting of the world’s advanced economies when he hosts the summit next year.
Speaking at the Group of Seven summit in France during a breakfast meeting with British Prime Minister Boris Johnson, Trump says he’s considering inviting Russian President Vladimir Putin. Russia was a member of what was then the Group of Eight, but was expelled by the majority of the other countries in 2014 over its invasion of Ukraine.
European nations have insisted that Russia first comply with the Minsk Accords before it is allowed to rejoin. Trump has not said under what criteria he’d re-invite Putin.
President Donald Trump is disputing reports that he faces a tense reception from world leaders at the Group of Seven summit in France.
In a Sunday morning tweet Trump says “the Leaders are getting along very well.”
Trump is trying to use the summit to convince global leaders to do more to address a global economic slowdown, as fears rise it could soon affect the U.S. ahead of his re-election.
But his counterparts, including British Prime Minister Boris Johnson, whom he is set to meet Sunday, are trying to convince him to back off his trade war with China and other countries, which they see as contributing to the economic weakening.
Trump tweets that “our Country, economically, is doing great – the talk of the world!”