Trump Addresses Trade Tariffs at the G7 Summit

June 11, 2018 Last Updated: June 11, 2018

U.S. President Donald Trump addressed trade tariffs at the press conference he held after the G7 summit in Charlevoix, Quebec.

Video transcript:

We tackled a variety of issues and opportunities facing our nations. At the top of the list was the issue of trade — a very important subject — because the United States has been taken advantage of for decades and decades, and we can’t do that anymore.

We had extremely productive discussions on the need to have fair and reciprocal — meaning, the same. People can’t charge us 270 percent and we charge them nothing. That doesn’t work anymore.

I made a lot of statements having to do with clarity. We want and expect other nations to provide fair market access to American exports, and that we will take whatever steps are necessary to protect American industry and workers from unfair foreign trading practices, of which, really, there are many. But we’re getting them straightened out, slowly but surely.

[…]

Well, if they retaliate, they’re making a mistake. Because, you see, we have a tremendous trade imbalance. So when we try and bring our piece up a little bit so that it’s not so bad, and then they go up — right — the difference is they do so much more business with us than we do with them that we can’t lose that. You understand. We can’t lose it.

And as an example, with one country we have $375 billion in trade deficits. We can’t lose. You could make the case that they lost years ago. But when you’re down $375 billion, you can’t lose. And we have to bring them up.

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But the relationship that I’ve had is great. So you can tell that to your fake friends at CNN.

The relationship that I’ve had with the people, the leaders of these countries, has been — I would really, rate it on a scale of 0 to 10, I would rate it a 10. That doesn’t mean I agree with what they’re doing. And they know very well that I don’t. So we’re negotiating very hard, tariffs and barriers.

As an example, the European Union is brutal to the United States. They don’t — and they understand that. They know it. When I’m telling them, they’re smiling at me. You know, it’s like the gig is up. It’s like the gig is up. They’re not trying to — there’s nothing they can say. They can’t believe they got away with it.

Video Credit: The White House