Trump touts G20 summit as 'great success' for US

Trump Considers Hard Line on Chinese Steel in Advance of G20 Summit

Trump's thinking about a tariff could trigger 'global recession'

"It's not just the pricing, it's not just employment", Trump said in April at a ceremony ordering the review.

US President Donald Trump meets other world leaders at Germany's G20 summit from Friday, with North Korea's first successful test of an intercontinental ballistic missile casting a long shadow over the gathering at the heavily-fortified venue.

In fact, of the top 10 foreign steel suppliers, of which Canada is the largest, six are tied to the United States through NATO, NAFTA or bilateral defense treaties; two others, Taiwan and Brazil, are old US friends.

Japan and Europe are wary of protectionist moves by the U.S. At the G-20 summit, Prime Minister Shinzo Abe discussed the broad trade agreement Japan reached Thursday with the European Union, drawing assent from several leaders when he called it vital for the two sides to show their strong resolve to fly the flag of free trade.

This is just the second move in what analysts fear could be a series of retaliatory actions leading to a slowing of global trade, which could have a serious drag on the U.S. economy.

The EU is the world's second largest steel producer after China.

While China is the central focus of the Trump administration's Section 232 investigations of steel and aluminum imports, other nations are interested in the investigations' results.

French President Emmanuel Macron challenged Trump's view that the U.S.is losing out on trade, the official said.

"There is no doubt that this entire line of trade remedy actions regarding national security matters is going to be an issue", said Jacob Kirkegaard, a senior fellow with the Peterson Institute for International Economics. They are hoping to galvanize other countries at the G-20 to work together to confront China over its government support for the domestic steel industry, with the idea that joint pressure could be more effective and remove the possibility that the United States has to move alone.

The Trump administration argues the US has become too dependent upon foreign steel for its infrastructure and military equipment. Indeed, analysts have warned that tariffs could drive up steel prices for USA manufacturers. An administration official, however, told Reuters last week that the report would be released after Trump spoke with leaders at the Group of 20 summit in Germany later this week.

"There are things that cause us great concern that the United States is starting a trade war against Europe". In a speech to her Parliament last week she declared, in an unmistakable allusion to Mr. Trump, that "anybody who believes the problems of the world can be solved with isolationism and protectionism is making a big mistake".

Trade analysts expect G-20 leaders to persuade Trump to eschew national security tariffs on steel and aluminum because of the blow-back effect they could have on the stability of the global trading system.

World Trade Organization members are already reeling from the risky precedent being set by a growing preoccupation with national security measures at the Geneva-based trade body.

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