Trump signals tariff pressure at first G7 summit

The Group of Seven summit opened Sunday in Kananaskis, Canada, marking U.S. President Donald Trump’s first multilateral appearance since returning to the White House. The meeting comes at a volatile time, with military clashes between Israel and Iran roiling oil prices and global currency markets. Many expect the summit to become a pivotal moment in the deepening global tariff war.

With a key mutual tariff suspension set to expire in three weeks, Trump has signaled a hard line. Concerns are growing that the summit may devolve into a confrontation between the U.S. and the other six member nations. For South Korean President Lee Jae-myung, attending the G7 for the first time, the challenge will be managing a complicated agenda that includes both tariff issues and the restructuring of U.S. Forces in Korea during his meeting with Trump.

As he left the White House on Sunday, Trump was asked whether he would announce a new trade deal. “All we need to do is send a letter that says, ‘This is what you owe,’” he said. However, he also suggested that a few new deals could be reached. His comments were widely interpreted as a warning that tariffs will be imposed when the current agreement expires July 8, adding pressure on the UK, Canada, and Japan as they race to complete trade talks with Washington.

“President Trump wants to make progress in various areas, including ensuring that the U.S.’s trade relationships are fair and reciprocal,” a senior White House official said.

Some fear this year’s meeting could echo the 2018 G7 summit, when Trump clashed with then-German Chancellor Angela Merkel over steel and aluminum tariffs. “Forget the G7 — this is now G6 versus Trump,” Politico reported at the time. With tensions high, observers say a joint statement is unlikely this year as well.

President Lee departed from Seoul Air Base on Monday en route to Canada. He is expected to hold bilateral talks with several key leaders, including Trump. According to South Korean officials, tariffs are likely to dominate Lee’s meeting with the U.S. president. “We will focus on general discussions to accelerate tariff negotiations through working-level talks,” a South Korean government official said. “It would be difficult to directly request an extension of the tariff suspension during their first meeting.”


Hoon-Sang Park tigermask@donga.com