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@mckonomy | |||||
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I’ve covered G7 meetings since 1995. I’ve never seen a country, let alone a G7 member, singled out like this:
g7.gc.ca/en/g7-presiden…
—thread—
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Michael McKee
@mckonomy
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Jun 2 |
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I asked Secretary Mnuchin his reaction. He told me the US, because of tax cuts, still leads the global economy. But he acknowledged the rest of the G7 may disagree.
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Michael McKee
@mckonomy
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Jun 2 |
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In fact, they do. I spoke to the finance ministers from the rest of the G7, many of the central bankers, the EC and Eurogroup representatives, and senior officials from the IMF. Unanimous that the US is mistaken and will pay a big price.
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Michael McKee
@mckonomy
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Jun 2 |
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“This is a very severe problem for relations between the European Union and the United States,” German Finance Minister Olaf Scholz told me.
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Michael McKee
@mckonomy
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Jun 2 |
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“We are very concerned. The economic effects of trade wars are very negative for all,” Bank of Italy Governor Ignazio Visco told me.
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Michael McKee
@mckonomy
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Jun 2 |
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“It has been a tense and tough G-7. I would say it has been far more a G-6 plus one than a G-7,” French Finance Minister Bruno Le Maire told me.
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Michael McKee
@mckonomy
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Jun 2 |
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“I think there was a comment out there that this was the G6+1. It was not. It was the G7...” Mnuchin said. He’s spinning. The US is more isolated than I have ever seen it in the more than two decades I have been doing this.
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Michael McKee
@mckonomy
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Jun 2 |
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It was an astounding and depressing weekend. Trump’s assertion the US is more respected than ever around the world is 180 degrees from the truth. I was, frankly, shocked.
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Michael McKee
@mckonomy
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Jun 2 |
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There is great anger and frustration around the globe that the world’s largest economy would forfeit its leadership for policies that don’t make economic sense, and that the rest of the G7 don’t understand.
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Citizen Assange
@Senator_Assange
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Jun 2 |
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Well, it used to be the G8.
#Russia
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patrickesnyder
@patrickesnyder
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Jun 2 |
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@threadreaderapp unroll
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Thread Reader App
@threadreaderapp
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Jun 2 |
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Hi! you can read it here: Thread by @mckonomy: "I’ve covered G7 meetings since 1995. I’ve never seen a country, let alone a G7 member, singled out like this: g7.gc.ca/e […]" threadreaderapp.com/thread/1003078…
Talk to you soon. 🤖
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Eric William Tomlins
@healthpicker
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Jun 2 |
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I think Trump thinks if the world fights back against his world trade policy we are all going to rally round him. Not a chance.
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OmeyDaHomey
@OmeyDaHomey
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Jun 2 |
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@threadreaderapp unroll please
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Thread Reader App
@threadreaderapp
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Jun 2 |
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Bonjour there is your unroll: Thread by @mckonomy: "I’ve covered G7 meetings since 1995. I’ve never seen a country, let alone a G7 member, singled out like this: g7.gc.ca/e […]" threadreaderapp.com/thread/1003078…
Share this if you think it's interesting. 🤖
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Rupa FitzGerald
@rupafitz
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Jun 2 |
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Who would yhunk that a system that works for everyone was their. The current system is based on gross exploitation of workers in developing countries.
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Marco Mazzocco, CFA
@MarcoMNYC
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Jun 2 |
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@realDonaldTrump is right on this. Time for free and fair trade.
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Marco Mazzocco, CFA
@MarcoMNYC
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Jun 2 |
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Time for change.
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H.P.Flashman...
@DrIgnatiusRiley
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Jun 2 |
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You have to wonder if the G7 Leaders' Summit 1) can withstand this and 2) will even take place, given DPRK summit is back on. Of course, that would assume POTUS would use the extra time to prepare. And note this will be POTUS' first trip to Canada...
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martyrabkin
@martyrabkin
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Jun 2 |
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Nearly always just believe the opposite of what he says.
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