Trump ruins G-7 summit meeting; will end without an agreement for the first time in history
The G-7 summit meetings first began in 1975, and ever since that then the heads of state from the largest seven economies have always ended the forum with an agreed statement. Not this time.
French President Emmanuel Macron is deciding to abandon the tradition of a joint communique citing “a very deep crisis of democracy.”
What does that mean exactly? Macron told reporters at a news conference in Paris on Wednesday that trying to produce a joint communique would pretty much be a "pointless" exercise at this point.
He's referring to Donald Trump.
Trump has increasingly made it clear that he doesn't care about America's leading partners and will instead make agreements on his own, with our without speaking with our allies.
Trump also wants to readmit Russian President Vladimir Putin into the G7 again, even after President Obama had a large part in removing him. Trump claims Russia "outsmarted" Obama, and that's why he had to leave.
“I could certainly see it being the G8 again, if someone would make that motion, I would be disposed to think about it favorably. As you know, for most of the time it was the G8 and it included Russia,” the president said.
The reality is, Putin was suspended form the G8 in 2014 after a majority of member countries protested its annexation of Crimea - the first open violation of a European country's borders since World War II.
“It is impossible to predict what the U.S. will do — we might be in for some surprises from Trump,” Agathe Demarais, global forecasting director at the Economist Intelligence Unit (EIU), told CNBC via telephone.
“I’m not sure what he is going to do, maybe Trump doesn’t know either,” Demarais said.
While the G-7 meeting isn't until Saturday, Trump's refusal to work with the leaders of Britain, Canada, France, Germany, Italy, Japan is already affecting talks.
Last years G-7 meeting was a fiasco, too, if you remember. Trump left early without signing a statement and instead started attacking Canadian Prime Minister Justin Trudeau.
“Based on Justin’s false statements at his news conference, and the fact that Canada is charging massive Tariffs to our U.S. farmers, workers and companies, I have instructed our U.S. Reps not to endorse the Communique as we look at Tariffs on automobiles flooding the U.S. Market!” Trump said at the time.
“PM Justin Trudeau of Canada acted so meek and mild during our G7 meetings,” Trump wrong again, “only to give a news conference after I left saying that, ‘US Tariffs were kind of insulting’ and he ‘will not be pushed around.’ Very dishonest & weak. Our Tariffs are in response to his of 270% on dairy!”
No wonder world leaders have so little expectations for this weekend.