Today the G7 summit will be held during which the heads of leading states will discuss various issues. Tension in this situation is added by the tariffs on the part of the United States which threaten a possible trade war. While Canada and the EU were often trade allies of the United States, at the moment they can turn against the US from June 20th.
Thus, a number of goods from the United States were listed in the WTO which will be charged with additional tariffs. These include tobacco, whiskey, and motorcycles from the United States.
The US and China are trying to improve their relationship. In order to avoid a trade war between the two countries, the US entered into a deal with ZTE, which allows it to return to the market. On the part of the company it will be necessary to pay a record fine and change the management of the company. The ban on the supply of processors is suspended for 10 years. This period was designated as a "test" for the company and in case of repeated violations, the ban will come into force again.
Donald Trump said that in case of successful negotiations with Kim Jong-un, he might be able to sign an agreement on the end of the Korean War. Otherwise, if the talks fail, the head of the White House said that he has an additional list of 300 new sanctions against North Korea that he is ready to sign.
Oil production in the US once again set a historic record and reached the level of 10.8 million barrels per day.
