United States Secretary of the Treasury Steven Mnuchin holds a news conference after the G7 Finance Ministers Summit in Whistler, British Columbia, Canada, June 2, 2018. REUTERS/Ben Nelms
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Mnuchin, however, downplayed the disagreements and said the United States was committed to the G7 process.Announcing the meeting's close, Canadian Finance Minister Bill Morneau said the host government and five others had urged Mnuchin to relay their "unanimous concern and disappointment". As the ministers' meet ended, Trump was as bellicose as ever, taking to Twitter to denounce "stupid trade" in which he said the U.S. saw foreign tariffs on its exports without responding in kind.Counting trade in both goods and services, the U.S. trade deficit was $566 billion in 2017, a 12 percent increase marking its highest level since the 2008 Great Recession.G7 governments were also digesting Trump's threats to impose tariffs on hundreds of billions of dollars in US auto imports on purported national security grounds.In China, U.S. Commerce Secretary Wilbur Ross was conducting trade talks with Chinese officials even as Washington finalizes planned sanctions on Beijing.China has threatened to hit back with tit-for-tat tariffs on tens of billions of dollars in U.S. goods -- as have Canadian, EU and Mexican authorities.
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