G7 Foreign Ministers Meet in Canada Amid Trump’s Tariff Threats on European Wine
G7 Foreign Ministers Meet in Canada Amid Trump’s Tariff Threats on European Wine
G7 Foreign Ministers Meet in Canada: Foreign ministers from G7 nations gather in Canada to discuss global stability, support for Ukraine, and US President Trump’s threat of a 200% tariff on European wine. Meanwhile, India focuses on strengthening exports amid rising trade tensions.
Foreign ministers of G-7 countries meeting in Canada, will discuss how to deal with Trump’s tariff threats. Foreign ministers of the world’s seven industrialized nations are meeting in Canada. This meeting began shortly after US President Donald Trump threatened to impose a 200 percent tariff on European wine.
The trade war is increasing
The growing trade war is increasing uncertainty in relations between the US and its closest allies. Therefore, for the next two days, US Secretary of State Marco Rubio will have to listen to many complaints from foreign ministers of Britain, Canada, France, Germany, Italy and Japan.
Canadian Foreign Minister Melanie Jolie said at the beginning of the meeting, ‘Peace and stability is at the top of our agenda and we are willing to discuss continuing support to Ukraine against Russia’s illegal aggression. We also want to promote long-term stability in West Asia.’
G7 Foreign Ministers Meet in Canada: The issue of tariff is quite big
Jolie said that she would raise the issue of the tariff in every meeting to coordinate with Europe and put pressure on the Americans. While Rubio did not attach much importance to Trump’s comments, saying the President was only saying what he thought was a good idea.
Centre assures protection of interests to exporters amid US tariff threats
The Commerce Ministry on Thursday assured domestic exporters, including those in labour-intensive sectors such as leather and textiles, of protecting their interests amid the risk of US tariff hikes. Export-related issues were discussed during an online meeting chaired by Commerce and Industry Minister Piyush Goyal.
Governed a stakeholder consultation meeting with export promotion councils and industry associations to discuss strategies to strengthen India’s export ecosystem, Goyal said in a post after the meeting.
G7 Foreign Ministers Meet in Canada: Boosting India’s export growth
The optimism of our industry stakeholders about turning global challenges into opportunities is indeed encouraging. With the evolving global trade landscape, we explored ways to expand into new markets and strengthen competitiveness to boost India’s export growth, he said. Sectors such as steel raised concerns over the potential impact of US tariffs on exports.
Work on the bilateral trade agreement is progressing rapidly
Santosh Kumar Sarangi, Director General of Foreign Trade (DGFT), and Sunil Barthwal, Secretary of Commerce, were also present at the meeting. An industry representative who attended the meeting said the ministry is working fast on the proposed bilateral trade agreement with the US.
