>> First it was fake news, and now it's Fool Trade. It's the latest phrase coined by US President Donald Trump on Monday as he wage a Twitter tirade against Canada's Justin Trudeau And the G7. Trump kicked forward Monday while in Singapore. He accused Canada and other US trading partners of abusing US fair trade practices so badly that it was now fool trade,.
Quote, if it not reciprocal asking, why should I, as President of the United States, allow countries to continue to make trade surpluses, quote, while our farms, workers, and taxpayers have such a big and unfair price to pay? Trump also singled out Germany, a close NATO ally for not giving enough to cover the cost of the alliance.
The size of US funding to NATO has been a regular Trump complaint since he ran for office in 2016. The weekend G7 Summit in Quebec saw some glimpses of tension between Trump and the rest. Then after Trudeau's closing remarks it boiled over into a bitter sting from Trump.
The US President called him dishonest and weak after Trudeau announced new tariffs against America.>> Canadians we're polite, we're reasonable, but we also will not be pushed around.>> Trump pulled his name from a joint communique signed by all the leaders of the G7 Summit. His administration quickly moved to support the president.
>> Trudeau decided to attack the president, that's a key point.>> It's a fight that will also may drive the fate of the North American free trade agreement. With President Trump threatening to pull out of the 25-year-old deal if Canada refuses to play by his rules, but Trudeau was digging in.
>> My job is to stand up for Canadian workers, Canadian interests, and I will do that, without flinching.>> Asian markets dipped in early trade on Monday in reaction to the spat, but edged back on hopes that the summit between Trump and Kim Jong Un may ease tension across the region.