Why Trump's combative trade stance toward allies poses risks
WASHINGTON (AP) — Insulting the host, alienating allies and threatening to suspend business with other countries: President Donald Trump was in full trade-warrior form for the weekend summit of the Group of Seven wealthy democracies in Canada.
The president's acrimony raised the risk of a trade war that could spook financial markets, inflate prices of goods hit by tariffs, slow commerce, disrupt corporations that rely on global supply chains and jeopardize the healthiest expansion the world economy has enjoyed in a decade.
Leaving the conclave in Quebec on Saturday, Trump threatened to "stop trading" with America's allies if they defied his demands to lower trade barriers.