U.S. Blasted over Tariffs at G-7 Finance Meeting

June 2, 2018

Whistler- The United States on Friday faced a barrage of criticism from other Group of Seven major countries over its new steel and aluminum tariffs during their meeting in Canada.

The G-7 finance ministers and central bank governors kicked off their substantive discussions on the second day of the three-day meeting in Whistler, western Canada.

The United States started imposing the additional steel and aluminum tariffs on the European Union, Canada and Mexico on Friday as announced on the previous day.

The additional U.S. tariffs "are extremely deplorable," Japanese Finance Minister Taro Aso said during Friday's session. "Unilateral protectionism does not benefit any country."

In late March, the United States invoked the additional tariffs of 25 pct on steel and 10 pct on aluminum imported from many trade partners, including Japan, as a countermeasure against a national security threat. The initial targets did not include the EU, Canada or Mexico.

The administration of U.S. President Donald Trump is also considering additional tariffs on automobiles and auto parts, a key industry in Japan.

At a press conference, Aso said Friday's session appeared tough for the United States.

Japanese sources said G-7 officials spent much more time than planned to discuss trade issues at the request of Canada, the host of the gathering.

The United States defended its steel and other import restrictions, but it failed to gain understanding from its G-7 partners, the sources said.

At a press conference before the day's session, Canadian Finance Minister Bill Morneau said it is absurd of the United States to impose tariffs on trading partners on the basis of national security.

French Finance Minister Bruno Le Maire said the G-7 is about to become a G-6 plus the United States, highlighting the U.S. isolation at the meeting. Jiji Press