G7 Winds Down, Trump Announces Major Trade Deal With Japan

President Trump and other world leaders have been rubbing elbows at the G7 summit in the south of France – but what most people are talking about? Trump saying that he had “second thoughts” about the trade war with China – even repeating it. "Yeah, sure, why not? Might as well,” he quipped. “Might as well. I have second thoughts about everything." On Friday the Trump administration announced its plan to increase existing import duties on Chinese goods another 5% this fall.

And while the White House spent much of yesterday “clarifying” the comments – saying that Trump had ‘second thoughts about not going for the jugular sooner, a new announcement came: about a major new trade deal following a bilateral meeting with Japan's Prime Minister Shinzo Abe.

Trump described the preliminary agreement as "a very big deal" worth billions that will benefit American farmers. Japan's prime minister called it a "win-win" for both countries. Trump said the agreement will be signed at a formal ceremony next month.

As for China, Trump is not backing down on his decision to push China on trade issues. Trump said for the time being both sides are talking, adding, "I think they want to make a deal more than I do." What does China say? They’re warning the U.S. of consequences if it does not end its "wrong actions."

Meanwhile in the Asian theater, Trump reacted to news about North Korea firing off another missile test. Saying he’s “not happy” about it, Trump also noted that the move did not violate any agreements. Japanese Prime Minister noted that Saturday's launch violated UN Security Council resolutions. Trump said Kim isn't the only one testing short range missiles adding, "We are in a world of missiles folks, whether you like it or not."

Source: White House