German Chancellor Angela Merkel got the ball rolling Wednesday by asserting she was going to engage in a diplomatic full-court press on the president’s EU tariffs, which impact her country the most. She was soon followed by French President Emmanuel Macron, who said he plans to “stand up” against his friend the president.
White House economic adviser Larry Kudlow tried to downplay the situation Wednesday afternoon, calling it “a family quarrel,” and said the president is merely “trying to fix this broken system” But, then he added:
“He’s sticking to his guns. He’s going to talk to them. The lines are open.”
Kudlow also said the president has been clear that the administration “will do what is necessary” to protect the U.S., its businesses and its workforce.
In a battle between globalism and “America First,” the U.S. opens from a very strong negotiating position. U.S. GDP, while the percentage has trended downward the last few years, still accounts for about one-eighth of the global economy.
And according to Kudlow, it’s going to start growing again:
“We’re pushing through 3 percent. Some said it couldn’t be done. It is being done, and we’re proud of it. And I think President Trump’s policies of lower taxes and major regulatory rollback are a key part of this issue. And I also think his role as probably the strongest trade reformer of the past 20 years not only protect American interests, but to open up avenues of growth for our business and our workers, and frankly, to help open up world growth. The world trading system is a mess. It is broken down. Insofar as fairness and reciprocity and, ultimately, free trade, I think this is contributing to our economic growth and our confidence.”
Kudlow said his hope is that the other G7 members will “take notice” and see that the Trump policies are working and that they will work to “extend and expand” them to bring about a more prosperous U.S. and world economy.
Full article: Tone of Upcoming G7 to be ‘Confrontational’ (TruNews)