Trump touts G20 summit as 'great success' for US

Stormy G20 ends with gestures for Trump on climate, trade

Trump's Commerce Department launched its review in April, missed a self-imposed deadline for a decision last month and is expected to announce a verdict soon.

President Trump on Sunday declared his trip to the G20 leaders summit a "great success for the USA", saying on Twitter he had "explained" to his counterparts that the U.S.is intent on improving its trade deals.

Moreover, trade diplomats fear US security-based tariffs on steel would widen cracks in the global trading order, after Saudi Arabia, Bahrain and the United Arab Emirates cited national security at the WTO last week to justify their economic boycott of Qatar. He gave the example of his Apple iPhone, which is designed in the US, made in China with some USA parts, and sold in Europe - an argument he first advanced to his fellow G-20 leaders in response to Trump's assertion that he will always defend American workers.

The U.S., under Section 232 of its Trade Expansion Act, can impose tariffs and other trade restrictions if imports are seen as weakening industries crucial to national security. To the contrary, major governments, including President Barack Obama's administration, have long recognized that global overcapacity is creating unsustainable downward pressure on producers' prices and that China's bloated state-run industry is the locus of that overcapacity.

The European Union is considering retaliatory tariffs against the U.S. if President Donald Trump follows through on his plan to impose restrictions on the imports of steel, according to a new report from Shawn Donnan at the Financial Times. His point was that it doesn't make sense to talk about bilateral trade deficits in a multilateral world, the official said. So much for China working with us - but we had to give it a try!

China urges India to 'correct mistakes' by withdrawing border troops
On Wednesday, it announced that it is weighing options on issuing a travel alert for its citizens visiting India. Two newspapers in China, Global Times and China Daily , warned India of consequences if it "incites" China.

In addition to being intellectually dishonest, asserting that steel imports pose a threat to US national security could be internationally destabilizing.

The European Union has pointed proudly at a wide-ranging trade deal with Japan, concluded just Thursday, as a retort to Trump's protectionist inclinations.

The European Union has already promised to retaliate if it is hit by US steel tariffs.

The last global summit, the Group of Seven meeting in May, was hugely divided over climate and trade and the Hamburg meeting was no different.

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". When it comes to trade policy, it's easy to shout "America first", but hard to define exactly what you mean by "America".

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