This week there will be a G7 meeting in Quebec. In anticipation of this event Donald Trump last week made many sharp statements which stirred up the market. Chinese representatives stated that in case the threats of the White House to impose tariffs become reality, China will not assume the obligations under the agreements reached earlier. According to the preliminary agreement a decision was reached to reduce the surplus between the two countries by 375 billion US dollars.
However, Trump's economic adviser Larry Kudlow said that in this situation the president is not to blame, and the fault lies with those countries that violate trade rules.
Furthermore, after Trump's statements on the introduction of import duties on steel and aluminium, the EU, Mexico, and Canada have stated they would respond in turn.
This week will be published the decision on interest rates in Australia and India; it is expected that rates will remain at the same level.
