Trump says no new NAFTA deal without five-year sunset clause

Berenberg's Schmieding Says America First Means America Alone

Britain's Prime Minister Theresa May, Germany's Chancellor Angela Merkel, U.S. President Donald Trump, Canada's Prime Minister Justin Trudeau and France's President Emmanuel Macron stand together for a family photo with the other leaders of the G-7 summit in the Charlevoix city of La Malbaie, Quebec, Canada, June 8, 2018.

Donald Trump accused the European Union of a "brutal" approach to trade with the United States and warned that retaliating to American steel tariffs would be a mistake. Trump has said that Russian Federation should have been readmitted to the negotiations.

Meanwhile, the European Union - the world's largest trading bloc - announced last week it would impose retaliatory tariffs on the US beginning in July, over Washington's duties on steel and aluminum imports from Europe.

WATCH: Merkel says joint communique on trade coming from G7, but still gaps with U.S.

It is an annual summit bringing together Canada, the USA, the UK, France, Italy, Japan and Germany, which represent more than 60% of global net worth between them.

According to the leaders of the Group of Seven (G7) industrialized nations, the members have agreed to "acknowledge free, fair and mutually beneficial trade" as a "key engine" for growth and jobs as well as to note the importance of fighting protectionism.

"Putin is not our friend and he is not the president's buddy", Sasse said. "Or like the title of the movie '10 Things I Hate About You'".

The German leader said there was broad agreement among G7 leaders that tariffs and other trade barriers should be reduced.

Aamir is a huge fan of this Southern star
Enthusiasm was seen among Rajinikanth's fans in Mumbai who queued up in large numbers outside a movie theatre to watch " Kaala ". Pro-Kannada workers protest outside Balaji theatre in Bengaluru where Rajinikanth's movie Kaala is screening, on June 7, 2018.

At what a French described as one "extraordinary" session, leaders who had vowed to confront Trump over his decision to impose tariffs on USA allies last week as part of his "America First" agenda, showered Trump with data one after the other. "European Union treats us very unfairly".

Canada wants a deal too, but the Trudeau government views the U.S.'s proposed five-year sunset clause as a non-starter.

White House officials did not immediately respond to requests for comment on the characterisations by these officials of Trump's remarks or attention to the presentations. Or we'll stop trading with them.

Trump on Saturday planned to attend a morning event focused on gender equality before departing for Singapore and his summit Tuesday with North Korea's Kim Jong Un.

The June 2018 G-7 Summit at Charlevoix, Quebec, may go down as the place and time when Donald Trump, roughly five hundred days into his presidency, put his stamp on USA foreign policy, just prior to his encounter with North Korean leader Kim Jong-un in Singapore.

Trump's utopian idea was greeted with scepticism- "Good luck".

Trump says they will either have a better agreement on NAFTA or two deals involving separate trade deals with both Canada and Mexico.

Ahead of the meeting, Trump already set a hostile tone on his Twitter profile, lashing out against Canadian Prime Minister Justin Trudeau over fees on dairy products, calling him indignant, in addition to criticising unfair tariff barriers. Trump has denied the hotel, which opened during the Klondike Gold Rush, was ever operated as a brothel.

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