Published On: Sat, Jun 9th, 2018

G7 summit fails to live up to its expectations

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With United states President Donald Trump showing no interest to give up his protectionist attitude, and the industrial countries demonstrating no power to pressurise the US Supremo to give up his anti-global trade attitude, the G7 summit, which is taking place in Canada, has so far failed to resolve the crisis emerged after the newly inducted US government’s decision to impose unjustifiable tariffs on steel and aluminium imports.

Earlier, there were expected that the crucial summit of the industrialist countries which has a huge say on the world economy would impose extreme pressure over the United States, which is a prime member of the group of industrialist countries, to withdraw all its anti-global trade policies and would release a joint statement at the end of the summit stating the industrialist countries sincere commitment towards the globalisation and the concept of free trade and opening up of the world economy.

As the summit is approaching its end, the probability for such a historic statement is slowly diminishing.

The majority of the G7 countries fell that the unjustifiable trade tariffs erected by those countries which are supposed to protect the globalisation concepts would give a world message to the global economy and would open up the possibility of an intense trade war.

The US is one of the countries which have hugely benefitted from the opening up of the world economy. It has the moral responsibly to protect and propagate the concept of globalisation as it is one of the first proponents of this concept.

What will be the closing statement of the G7 summit 2018?

 

Vignesh. S. G

Photo Courtesy: Google/ images are subject to copyright 

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G7 summit fails to live up to its expectations