OTTAWA — French President Emmanuel Macron and Canadian Prime Minister Justin Trudeau expressed support for “strong multilateralism” in Ottawa Wednesday before the G7 summit, where US President Donald Trump’s aggressive trade policies are sure to raise hackles. Displaying a united front, the two leaders in their 40s said in a statement they “support a strong, responsible, transparent multilateralism to face the global challenges.” The pair were scheduled to hold formal talks and a private dinner on Wednesday, followed by a joint news conference early Thursday. Those discussions are likely to focus on Trump’s decision last week to impose punishing tariffs on imports of steel and aluminum from Washington’s closest allies, including Canada, the European Union and Japan. In retaliation, all of them have either hit back with their own tariffs on US goods or threatened to do so, as well as challenging the US trade measure at the World Trade … [Read more...] about Macron, Trudeau support ’strong multilateralism’ ahead of G7 summit
G7
European stocks stall as ‘contentious’ G7 summit looms
European stock markets trod water on Wednesday (Jun 6) as investors girded themselves for what German Chancellor Angela Merkel called a "contentious" summit of Group of Seven nations later this week. London Stock Exchange, photo AFP Wall Street rose on data showing that the US trade gap is narrowing. G7 leaders will descend on Quebec this Friday and Saturday for a summit dominated by world trade after US President Donald Trump slapped Canada, Mexico and the European Union with steel and aluminium tariffs. Merkel said she expected "contentious discussions" at the summit, given differences with Trump on trade, climate and security. In response to Trump's punitive tariffs on metals, both the EU and Mexico have announced retaliatory measures. 'BUCKLE UP' "Investors should buckle up for a potential showdown as trade is expected to be a major talking point throughout the summit," said FXTM analyst Lukman Otunuga. "With escalating trade tensions seen as a significant threat to … [Read more...] about European stocks stall as ‘contentious’ G7 summit looms
PM discusses renewable energy in Việt Nam ahead of G7
Viet Nam News Prime Minister Nguyễn Xuân Phúc speaks to Reuters News Agency about how Việt Nam benefits from and contributes to international exchange at multilateral forums on the occasion of the G7 outreach meeting in Quebec City, Canada. Prime Minister Trudeau has invited you to attend the G7 Summit in Canada this June. One of the themes there is climate change, oceans and clean energy. Since the international investment community sees Việt Nam as one of the best places for growth in terms of renewables, can you tell us how Việt Nam aims to enable and support the development of and investment in clean energy and renewables? For example, Việt Nam has large rare earth reserves. Could those be used to manufacture batteries that would back up solar energy production in Việt Nam, and does Việt Nam therefore have a plan to explore and extract these rare earth reserves? Việt Nam is blessed with immense potential for clean … [Read more...] about PM discusses renewable energy in Việt Nam ahead of G7
G7 finance chiefs kick trade dispute to leaders’ summit in Quebec
G7 finance chiefs kick trade dispute to leaders' summit in Quebec WHISTLER (REUTERS) - Finance leaders of the closest U.S. allies vented anger over the Trump administration's metal import tariffs on Saturday, ending a three-day meeting with a stern rebuke of Washington and setting up a heated fight at a G7 summit this week in Quebec. In a rare show of division among the normally harmonious club of wealthy nations, the six other G7 member countries issued a statement asking U.S. Treasury Secretary Steven Mnuchin to convey their "unanimous concern and disappointment" about the tariffs to President Donald Trump. The 25 percent steel and 10 percent aluminum tariffs were imposed this week on Mexico, Canada and the European Union after temporary exemptions expired. "We're concerned that these actions are actually not conducive to helping our economy, they actually are destructive, and that is consistently held across the six countries that expressed their point of view to Secretary … [Read more...] about G7 finance chiefs kick trade dispute to leaders’ summit in Quebec
US isolated at G7 meeting as tariffs prompt retaliation
The United States’ closest allies attacked the Trump administration on Friday for imposing tariffs on steel and aluminum imports and mounted challenges with the world’s top trade body, fouling the mood at a G7 finance leaders meeting. U.S. Treasury Secretary Steven Mnuchin was the prime target of the criticism at the meeting of Group of Seven finance ministers and central bank governors in Canada, with the six other G7 member countries subject to the U.S. metals tariffs, which were imposed on national security grounds. Their complaints also complicated U.S. efforts to gain cooperation to challenge China’s trade practices. The European Union and Canada both filed challenges with the World Trade Organization. Canadian Foreign Minister Chrystia Freeland said in a statement that the tariffs were “imposed under a false pretext of safeguarding U.S. national security.” Canada’s finance minister, Bill Morneau, told reporters that in a meeting with Mnuchin, … [Read more...] about US isolated at G7 meeting as tariffs prompt retaliation
Prime Minister to attend expanded G7 Summit
Prime Minister Nguyen Xuan Phuc The G7 is an informal grouping of seven of the world’s advanced economies consisting of Canada, France, Germany, Italy, Japan, the UK and the US. The G7 Summit offers an opportunity for G7 leaders, ministers and policy makers to come together each year to build consensus and set trends around some of today’s most challenging global issues. Over the past 40 years, the G7 has strengthened international economic and security policy, mainstreamed climate change and gender equality, brought donors together and supported disarmament programs. It has been proven to provide the global leadership and play a powerful role in impacting world issues. Vietnam and Canada established diplomatic ties in 1973 and began exchange of high-ranking delegations since 1994. In September 2014, the Vietnamese and Canadian ministers of foreign affairs signed a letter of intent on boosting bilateral relations. In July 2017, their first political consultation at … [Read more...] about Prime Minister to attend expanded G7 Summit
G7 Foreign Ministers express concern about East Sea situation
The communiqué read: “We reiterate our commitment to promoting cooperative, international maritime governance, to maintaining a rules-based maritime order based on international law, including as reflected in the UN Convention on the Law of the Sea (UNCLOS), to building trust and ensuring security, and to the peaceful management and settlement of disputes without using the threat of force or coercion and in accordance with international law, including through internationally recognised legal dispute settlement mechanisms, including arbitration.” The ministers also reiterated their commitment to the freedom of the high seas, including the freedom of navigation and overflight, and to other rights, including the rights and jurisdiction of coastal states and internationally lawful uses of the seas. “In this context, we stress the importance of maintaining a free and open Indo-Pacific region based on the rule of law, and express our intention to work together … [Read more...] about G7 Foreign Ministers express concern about East Sea situation
G7 ministers meet on Russia, Iran and North Korea threats
Canada's Minister of Foreign Affairs Chrystia Freeland, seen here with Japanese Foreign Minister Taro Kono, will host all of her G7 colleagues plus the European Union's representative at a working lunch to discuss the crisis in Russia and Ukraine. (AFP/Lars Hagberg) The envoys were also keen to glean clues from their US colleague about whether President Donald Trump will tear up the Iran nuclear deal and how he will handle a planned summit with North Korea's Kim Jong Un. The ministers from the world's most powerful democracies are meeting to plan for June's G7 summit of rich-world leaders in Charlevoix, Quebec - but Russia and North Korea will never be far from their minds. Canada's Foreign Minister Chrystia Freeland hosted the meeting and invited her G7 colleagues plus the European Union's representative to a working lunch to discuss the crisis in Ukraine, where Russian-backed rebels have seized the eastern Donbas region. Afterwards, she said the G7 members had "reaffirmed our … [Read more...] about G7 ministers meet on Russia, Iran and North Korea threats
G7 nations agree on a ’common vision’ for AI
Group of Seven countries have agreed to a "common vision" for the development of artificial intelligence, a Canadian minister has said. -- AFP/VNA Photo Viet Nam News MONTREAL — Group of Seven countries have agreed to a "common vision" for the development of artificial intelligence, a Canadian minister said. Officials met in Montreal for a jobs and innovation forum ahead of Canada’s hosting of the G7 industrialized nations summit from June 8-9 in La Malbaie, Quebec. "G7 innovation ministers have agreed on some common approaches to artificial intelligence and a list of best practices," Canada’s Social Development Minister Jean-Yves Duclos told a news conference at the end of the talks. This includes a "shared vision for human-centered AI," said a joint statement on Wednesday. Duclos noted the concerns many, including around the G7 table, have expressed over the hijacking and abuse of personal date on social network Facebook. Canadian whistleblower … [Read more...] about G7 nations agree on a ’common vision’ for AI
G7 takes lead in instant coffee market
G7 takes lead in instant coffee marketBy Pham Thai - The Saigon Times DailyHCMC – Trung Nguyen Coffee Corporation’s G7 instant coffee has become the dominant brand in the local instant coffee market, according to a survey by the market research service provider AC Nielsen.Last year, G7 brand of Trung Nguyen Coffee Corporation held a dominating market share of 38%, followed by Nescafé, Vinacafé and Passiona. The brand captured a market share of 40% in the first quarter of this year, the coffee maker reported at a press briefing on Wednesday.AC Nielsen conducted the survey on 1,413 retail outlets in six big cities, including grocery stores, supermarkets and convenience stores.Trung Nguyen Corp’s coffee processing plants are running at full capacity in a bid to satisfy the domestic demand and export, said Dang Le Nguyen Vu, chairman of the company.“We plan to upgrade the capacity of a processing plant that has been bought from Vinamilk by an additional … [Read more...] about G7 takes lead in instant coffee market