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G7 finance chiefs end annual meeting in Canada

The Finance Ministers of Group of Seven nations have ended their annual meeting at Whistler in Canada, calling on US President Donald Trump to reverse his decision to impose new tariffs on steel and aluminium imports.

US Treasury Secretary Steve Mnuchin faced sharp criticism from the Finance Ministers of other G-7 nations over the issue, with Canada saying that the host government and five others have urged Mr Mnuchin to relay their unanimous concern and disappointment to the US President.

Canadian Finance Minister Bill Morneau said discussions should continue at the G7 leaders’ summit beginning on Friday in Quebec.

French Finance Minister Bruno Le Maire said, the participants had tense discussions, describing the meeting as far more a G6-plus-one than a G7.
Germany Finance Minister Olaf Scholz said, US tariffs were a very severe problem for transatlantic relations.

After Mr Mnuchin faced criticism over the US decision, US President Donald Trump said in a tweet that Washington cannot afford to lose a trade war when it is being ripped off.

Source: AIR