Trump reiterated his threats on Wednesday to pull the United States back from existing trade deals, arguing they were against the national interest. As Trump threatens to retreat from global trade, other world powers are exploring new economic ties. Trump is attempting to leverage the United States' economic power to negotiate new deals in the country's favor, while foreign leaders appear increasingly ready to bypass the United States in favor of stronger ties elsewhere. In advance of the meeting, Merkel and Trump discussed “global steel overcapacity” in a phone call on Monday, something that could become the top trade issue at the summit. The Germans argue that their companies, including luxury automakers, invest heavily in the United States, employing more than 100,000 Americans.

Source: Washington Post July 05, 2017 15:25 UTC