President Trump, just back from his first Group of 20 summit, is touting his trip to the gathering of world leaders as a “great success for the U.S.”
“Explained that the U.S. must fix the many bad trade deals it has made,” he tweeted early Sunday. “Will get done!”
{mosads}World leaders were initially wary that the Trump administration’s threat of steel tariffs could spark a global trade war. But after difficult negotiations, they eventually reached an agreement at the summit on trade.
The leaders agreed in the final statement of the G-20 leaders that they would “fight protectionism and all unfair trade practices and recognize the role of legitimate trade defense instruments in this regard.”
They will be tested if Trump decides to go ahead and impose new tariffs on steel.
Trump in the coming days is expected to decide whether to slap new tariffs or other restrictions on steel imports. That action would anger China and other major trading partners.
–Jonathan Easley and Jordan Fabian contributed to this report.