PM Narendra Modi said that the Kashmir issue should be handled bilaterally at G7 Summit.

PM Modi makes position on Kashmir clear; says Kashmir issue should be handled bilaterally

Chinese state media on Monday blasted the United States after US President Donald Trump announced additional tariffs on goods from China and lashed out at China and ordered US companies to find "alternatives" to China.

Chinese state media on Monday blasted the United States after US President Donald Trump announced additional tariffs on goods from China and lashed out at China and ordered US companies to find "alternatives" to China. The world's two largest economies have been locked in an increasingly bitter trade war which has seen them level tariffs on each other's exports. Trump announced an additional duty on some $550 billion in targeted Chinese goods on Friday, hours after China unveiled retaliatory tariffs on $75 billion worth of US goods. However, he appeared on Sunday to back off on his threat to order US companies out of China. The official China Daily said in an editorial that Washington would "never be allowed to control China's fate". "It has become unquestionably clear that his administration's tariff war against China is politically motivated. What Washington wants from its largest trade partner is for it to be content to play second fiddle and meekly do as it demands," the English-language paper wrote in an editorial. "Washington has again taken the initiative to escalate the fight in the hope that Beijing will throw in the sponge as early as possible. But Beijing regards the trade war as an unavoidable trial by fire, from which the country will emerge stronger." The Global Times, a widely-read tabloid published by the ruling Communist Party's official People's Daily, said leaving the Chinese market would be "suicide" for US companies, especially for auto firms. "US companies are welcome to invest and operate in the Chinese market, but if some US companies want to obey Trump's order and join Washington's trade war, the result is bleak. A decision to give up the Chinese market is just suicide," the paper said in its editorial. The trade war has damaged global growth, upset allies, and raised market fears that the world economy will tip into a recession. Asian shares sank on Monday as the latest salvo in the Sino-US trade war shook confidence in the world economy and sent investors steaming to the safe harbours of sovereign bonds and gold while slugging emerging market currencies.

China state media blasts United States after Trump threats 

China's currency on Monday slid to its lowest point in more than 11 years as concerns over the US trade war and the potential for global recession weighed on markets.

The onshore yuan fell to 7.1487 to the US dollar, its weakest point since early 2008, in Asian trading.

Global economic tensions have intensified in recent days with the US and China raising tariffs on each other's imports, and President Donald Trump calling on US businesses to pull out of China.

The yuan is not freely convertible and the Chinese government limits its movement against the dollar to a two per cent range on either side of a figure that the central bank sets each day to reflect market trends and control volatility.

The People's Bank of China has set that rate steadily weaker in recent weeks and set it on Monday at 7.057 to the dollar.

Allowing the yuan to depreciate makes Chinese exports cheaper and offsets some of the burden of punitive US tariffs.

The yuan breached the key 7.0 threshold against the dollar earlier in August, days after the US announced plans to impose fresh tariffs on Chinese imports from September 1.

The plunge past 7.0 prompted Washington to officially brand Beijing a "currency manipulator".

China's central bank has "resolutely opposed" the label.

China's currency on Monday slid to its lowest point in more than 11 years as concerns over the US trade war and the potential for global recession weighed on markets.

China's currency on Monday slid to its lowest point in more than 11 years as concerns over the US trade war and the potential for global recession weighed on markets. The onshore yuan fell to 7.1487 to the US dollar, its weakest point since early 2008, in Asian trading. Global economic tensions have intensified in recent days with the US and China raising tariffs on each other's imports, and President Donald Trump calling on US businesses to pull out of China. The yuan is not freely convertible and the Chinese government limits its movement against the dollar to a two per cent range on either side of a figure that the central bank sets each day to reflect market trends and control volatility. The People's Bank of China has set that rate steadily weaker in recent weeks and set it on Monday at 7.057 to the dollar. Allowing the yuan to depreciate makes Chinese exports cheaper and offsets some of the burden of punitive US tariffs. The yuan breached the key 7.0 threshold against the dollar earlier in August, days after the US announced plans to impose fresh tariffs on Chinese imports from September 1. The plunge past 7.0 prompted Washington to officially brand Beijing a "currency manipulator". China's central bank has "resolutely opposed" the label.

China's yuan sinks to lowest in 11 years amid trade tension with US

The G7 is, perhaps, the world’s most important grouping when it comes to economic management and development. It has been so for the last 44 years. These annual summits were begun to thrash out issues of economic importance. When it was created in 1975, the group was G6 -- with six countries that had the lion's share of the global economy.&nbsp;

Canada was included later. In the early years, the group attempted to strengthen democracy around the world, fight the closed-market the then-Soviet Union and East Bloc. Now its scope is broader. For instance, this year's G7 theme is “Fighting inequality”.

At the same time, over the decades, the group has lost some of its sheen as many key countries are not included. Thus, the G20 emerged as more important than the G7. It is inconceivable that any group aiming to fight inequality should keep India and China out of it.&nbsp;

Today India and China are among the top seven countries in terms of the world’s GDP share. Besides, there is a power shift with India and China demonstrating the potential to drive what is billed as the ‘Asian Century’. Decisions crucial to the global economy cannot be made by keeping India out. 
 
The G7 needs to upgrade both its membership and mindset.&nbsp;

All major economies including the European Union nations and the US are seeking stronger trade ties and economic relations with India, which is now a magnet for rising foreign investment. India should be engaged as an equal partner by these developed nations in the interests of the global economy especially if its self-appointed leaders are serious about avowed objectives like “Fighting Inequality”. &nbsp; 
&nbsp;

(Disclaimer: WION Edit is the channel's take on the big events of the world)

The G7 is, perhaps, the world’s most important grouping when it comes to economic management and development. It has been so for the last 44 years. These annual summits were begun to thrash out issues of economic importance.

The G7 is, perhaps, the world’s most important grouping when it comes to economic management and development. It has been so for the last 44 years. These annual summits were begun to thrash out issues of economic importance. When it was created in 1975, the group was G6 -- with six countries that had the lion's share of the global economy. Canada was included later. In the early years, the group attempted to strengthen democracy around the world, fight the closed-market the then-Soviet Union and East Bloc. Now its scope is broader. For instance, this year's G7 theme is “Fighting inequality”. At the same time, over the decades, the group has lost some of its sheen as many key countries are not included. Thus, the G20 emerged as more important than the G7. It is inconceivable that any group aiming to fight inequality should keep India and China out of it. Today India and China are among the top seven countries in terms of the world’s GDP share. Besides, there is a power shift with India and China demonstrating the potential to drive what is billed as the ‘Asian Century’. Decisions crucial to the global economy cannot be made by keeping India out. The G7 needs to upgrade both its membership and mindset. All major economies including the European Union nations and the US are seeking stronger trade ties and economic relations with India, which is now a magnet for rising foreign investment. India should be engaged as an equal partner by these developed nations in the interests of the global economy especially if its self-appointed leaders are serious about avowed objectives like “Fighting Inequality”. (Disclaimer: WION Edit is the channel's take on the big events of the world)

WION Edit: India at G7 Summit - 'Fighting Inequality'

Bilateral meeting between Prime Minister Narendra Modi and United States of America (USA) President Donald Trump concludes. That was the first face-to-face interaction between the two leaders after India abrogated Article 370 from Jammu and Kashmir, a move that has seen Pakistan cry foul. It is also the first meeting after President Trump's comment that he was ready to mediate between India and Pakistan on the Kashmir issue.

Bramha Chellaney on PM Modi-Trump bilateral meet at G7 Summit

Arun K Singh on Trump-Modi bilateral talks at G7 summit

Bilateral meeting between Prime Minister Narendra Modi and United States of America (USA) President Donald Trump is underway on the sidelines of the G7 summit in Biarritz, France. This is the first face-to-face interaction between the two leaders after India abrogated Article 370 from Jammu and Kashmir, a move that has seen Pakistan cry foul. It is also the first meeting after President Trump's comment that he was ready to mediate between India and Pakistan on the Kashmir issue.

PM Modi meets Trump on the sideline of G-7 Summit

Siddhant Sibbal on Modi-Trump meet at G7 Summit

Trump was aware of Iran's FM's visit at G7 summit but not ready to meet him yet.

G7 Summit: Trump was aware of Iran's FM's visit at G7

Erasing early losses, Sensex surged over 700 points in the afternoon and closed at 793 points after US President Donald Trump said China had contacted US trade officials overnight to say they wanted to return to the negotiating table.

Erasing early losses, Sensex surged over 700 points in the afternoon and closed at 793 points after US President Donald Trump said China had contacted US trade officials overnight to say they wanted to return to the negotiating table. Besides Trump's announcement, the withdrawal of surcharge proposed in the Budget on foreign portfolio investors by Finance Minister Nirmala Sitharaman and the measures she announced last week to prop-up the economy cheered the investors further. At closing the BSE S&P Sensex was up by 793 points at 37,494 while the Nifty 50 edged higher by 228 points to 11,057. At the National Stock Exchange, all sectoral indices except for Nifty metal were in the green. Nifty financial services gained by 3.8 per cent, PSU banks by 3.6 per cent and realty by 3.1 per cent. But metals slipped by 1.3 per cent. Among the prominent gainers were Yes Bank, Adani Ports, Indiabulls Housing Finance, HDFC and HDFC Bank. However, steel majors were down with JSW Steel showing a loss of 3 per cent, Vedanta by 1.82 per cent and Tata Steel by 1.81 per cent. Sun Pharma and Hero MotoCorp also lost by about 1.9 per cent each.

Sensex ends 793 points higher on stimulus, US-China trade talks; Nifty above 11,000 mark

US President Donald Trump said on Monday China had contacted US trade officials overnight to say they wanted to return to the negotiating table, welcoming the news as a very positive development for the world, reported news agency Reuters.

US President Donald Trump said on Monday China had contacted US trade officials overnight to say they wanted to return to the negotiating table, welcoming the news as a very positive development for the world, reported news agency Reuters. Speaking on the sidelines of a summit of major industrialised nations, Trump hailed Chinese President Xi Jinping as a great leader and said he welcomed his desire for a deal and for calm, the report added. An increasingly bitter trade war between the world's two largest economies sharply escalated on Friday, with both sides levelling more tariffs on each other's exports. ''Chinese officials called to say let's get back to the table,'' he said. Trump said that US-China trade talks 'to start very shortly'. (With inputs from agencies)

US President Trump says China wants to negotiate over trade war

Leaders of the Group of Seven wealthy nations will discuss global trade woes at their annual summit on Sunday, likely laying bare a yawning divide between <a href="https://www.wionews.com/world/trump-says-us-would-tax-french-wine-in-response-to-digital-tax-245250">US President Donald Trump and his Western allies</a>.

The G7 gathering is taking place against a backdrop of growing worries about a global economic downturn and coincides with an era of international disunity across an array of issues that have strained decades-old allegiances.

Trump joined the leaders from France, Britain, Japan, Germany, Italy and Canada in the French coastal resort of <a href="https://www.wionews.com/world/french-police-fire-tear-gas-water-cannons-at-anti-g7-protesters-245391">Biarritz</a> for three days of talks that kicked off on Saturday with an ambitious agenda that includes the defence of democracy, gender equality, education and climate change.

The delegations had barely arrived before divergences were exposed, with senior US officials accusing the host, French President Emmanuel Macron, of looking "to fracture the G7" by focusing on "niche issues" rather than major global concerns.

France denied this, pointing to Sunday's initial session covering the economy, trade and security - areas that used to draw easy consensus but are now sources of great friction.

Trump arrived in France just hours after escalating his trade war with China in a tit-for-tat battle between the world's two largest economies that has spooked financial markets.

"I am very worried about the way it's going, the growth of protectionism, of tariffs that we're seeing," British Prime Minister Boris Johnson said on Saturday.

"Those who support the tariffs are at risk of incurring the blame for the downturn in the global economy, irrespective of whether or not that is true."

Underlining the discord, Trump also threatened his host on the eve of the summit, saying the United States would tax French wine "like they've never seen before" unless Paris dropped a digital tax on US technology companies.

Leaping into the fray, European Council President Donald Tusk, who takes part in the G7 discussions, warned the EU would respond "in kind" if Trump acted on his threat.

"This may be the last moment to restore our political community," Tusk told reporters on Saturday, giving a bleak assessment of Western relations.

Looking to broaden the scope of the debate, Macron has invited several African leaders to discuss the problems facing their continent, while leaders from India, Australia, Chile and Spain are due to attend a dinner on Sunday where the focus will be on the environment among other issues.

Brexit squabbles

Trump up-ended last year's G7 summit in Canada, walking out of the meeting early and disassociating himself from the final communique having initially endorsed the document.

France has got around that problem by doing away with the time-honoured communique, deciding it was not worth even trying to find common language.

While the transatlantic rift is the most stark, there are also deep divisions within the European camp, with Johnson making his G7 debut at a time when he is struggling to persuade EU capitals to renegotiate Britain's divorce from the bloc.

Johnson and Tusk, who are due to talk on Sunday on the sidelines of the summit, sparred ahead of the meeting over who would take the blame if Britain leaves the EU on October 31 without a Brexit agreement acceptable to both sides.

"I still hope that PM Johnson will not like to go down in history as Mr No Deal," said Tusk, who leads the political direction of the 28-nation European Union.

Johnson later retorted that it would be Tusk himself who would carry the mantle if Britain could not secure a new withdrawal agreement.

Macron added to the internal EU strains by unexpectedly threatening on Friday to block an EU trade deal with a group of South American states over Brazil's handling of fires that are ravaging the Amazon rainforest.

Germany and Britain both voiced deep concern about the blazes, but disagreed with Macron on how to respond, saying shooting down the ambitious Mercosur trade accord would not help save the Amazon.

Leaders of the Group of Seven wealthy nations will discuss global trade woes at their annual summit on Sunday, likely laying bare a yawning divide between US President Donald Trump and his Western allies.

Leaders of the Group of Seven wealthy nations will discuss global trade woes at their annual summit on Sunday, likely laying bare a yawning divide between US President Donald Trump and his Western allies. The G7 gathering is taking place against a backdrop of growing worries about a global economic downturn and coincides with an era of international disunity across an array of issues that have strained decades-old allegiances. Trump joined the leaders from France, Britain, Japan, Germany, Italy and Canada in the French coastal resort of Biarritz for three days of talks that kicked off on Saturday with an ambitious agenda that includes the defence of democracy, gender equality, education and climate change. The delegations had barely arrived before divergences were exposed, with senior US officials accusing the host, French President Emmanuel Macron, of looking "to fracture the G7" by focusing on "niche issues" rather than major global concerns. France denied this, pointing to Sunday's initial session covering the economy, trade and security - areas that used to draw easy consensus but are now sources of great friction. Trump arrived in France just hours after escalating his trade war with China in a tit-for-tat battle between the world's two largest economies that has spooked financial markets. "I am very worried about the way it's going, the growth of protectionism, of tariffs that we're seeing," British Prime Minister Boris Johnson said on Saturday. "Those who support the tariffs are at risk of incurring the blame for the downturn in the global economy, irrespective of whether or not that is true." Underlining the discord, Trump also threatened his host on the eve of the summit, saying the United States would tax French wine "like they've never seen before" unless Paris dropped a digital tax on US technology companies. Leaping into the fray, European Council President Donald Tusk, who takes part in the G7 discussions, warned the EU would respond "in kind" if Trump acted on his threat. "This may be the last moment to restore our political community," Tusk told reporters on Saturday, giving a bleak assessment of Western relations. Looking to broaden the scope of the debate, Macron has invited several African leaders to discuss the problems facing their continent, while leaders from India, Australia, Chile and Spain are due to attend a dinner on Sunday where the focus will be on the environment among other issues. Brexit squabbles Trump up-ended last year's G7 summit in Canada, walking out of the meeting early and disassociating himself from the final communique having initially endorsed the document. France has got around that problem by doing away with the time-honoured communique, deciding it was not worth even trying to find common language. While the transatlantic rift is the most stark, there are also deep divisions within the European camp, with Johnson making his G7 debut at a time when he is struggling to persuade EU capitals to renegotiate Britain's divorce from the bloc. Johnson and Tusk, who are due to talk on Sunday on the sidelines of the summit, sparred ahead of the meeting over who would take the blame if Britain leaves the EU on October 31 without a Brexit agreement acceptable to both sides. "I still hope that PM Johnson will not like to go down in history as Mr No Deal," said Tusk, who leads the political direction of the 28-nation European Union. Johnson later retorted that it would be Tusk himself who would carry the mantle if Britain could not secure a new withdrawal agreement. Macron added to the internal EU strains by unexpectedly threatening on Friday to block an EU trade deal with a group of South American states over Brazil's handling of fires that are ravaging the Amazon rainforest. Germany and Britain both voiced deep concern about the blazes, but disagreed with Macron on how to respond, saying shooting down the ambitious Mercosur trade accord would not help save the Amazon.

Trade and economy in focus as G7 leaders get down to work

Iranian Foreign Minister Mohammad <a href="https://www.wionews.com/world/irans-javad-zarif-heading-to-asia-in-push-against-us-sanctions-245310">Javad Zarif </a>flew into Biarritz in southwestern France for the <a href="https://www.wionews.com/world/trump-says-hasnt-discussed-joint-g7-message-to-iran-245519">G7 summit</a> on Sunday in an unexpected and dramatic attempt to break a diplomatic deadlock over Tehran's disputed nuclear programme.

Zarif's presence had not been announced and represented a risky attempt by French host Emmanuel Macron to find a way to soothe spiralling tensions between Iran and the United States.

He was not expected to hold <a href="https://www.wionews.com/world/iran-blacklists-us-based-think-tank-ministry-245525">face-to-face talks with US President Donald Trump</a>, but the presence of the two men in the same place sparked hopes of a detente.

Zarif will "continue talks regarding the recent measures between the presidents of Iran and France," Iranian foreign ministry spokesman Abbas Mousavi tweeted after flight tracking sites spotted that Zarif's plane had landed in Biarritz.

The French presidency confirmed his arrival, but emphasised no talks were planned with the American side.

A French diplomat also suggested -- without confirming -- that Trump had been made aware of the arrival during an impromptu two-hour lunch with Macron on a hotel terrace on Saturday.

"We work with full transparency with the Americans," the diplomat told reporters on condition of anonymity.

Watch: Iran wants US to rejoin 2015 nuclear deal

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Also speaking in Biarritz, US Treasury Secretary Steven Mnuchin said that Trump had in the past said that if Iran "wants to sit down and negotiate he will not set preconditions."&nbsp;

'Moving in right direction'

Macron held talks with Zarif in Paris on the eve of the G7 summit and has been leading efforts to bring Tehran and Washington back to the negotiating table.

Trump's policy of applying "maximum pressure" on Tehran via crippling sanctions has been criticised by European powers and is seen as raising the risk of conflict in the Middle East.

Macron has urged the US administration to offer some sort of relief to Iran, such as lifting sanctions on oil sales to China and India, or a new credit line to enable exports.

"To start this approach we need President Trump to agree with the idea that we need to make a pause (in the "maximum pressure" policy)," a French diplomat told reporters last week.

This is seen as a first step to get Iran back to the negotiating table, which could then lead to a new international agreement to limit its nuclear programme.

Speaking to AFP last week, Zarif said that Macron's suggestions were "moving in the right direction, although we are not definitely there yet."

Last year, Trump unilaterally pulled the US out of a landmark deal, of which Zarif had been a key architect, on the nuclear programme reached in 2015 between Iran, the US, European powers, Russia and China.&nbsp;

Trade war doubts?

Trump proclaimed Sunday that the G7 summit was going "beautifully," but there was no masking over cracks between the US president and his allies on many issues.

Leaders of the G7 countries -- Britain, Canada, France, Germany, Italy, Japan and the United States -- put on a united front as they spent a second day in the high-end French surfing town of Biarritz.

Trump arrived in Biarritz fresh from having drastically upped the ante in the trade war with China.&nbsp;

European leaders lined up to press for caution and on Sunday Trump gave a glimmer of hope that he was reconsidering his all-or-nothing approach to the dispute between the world's two biggest economies.

Asked whether he was having second thoughts about the trade war, Trump, in a rare moment of public self-doubt, replied: "I have second thoughts about everything."

Then in an extraordinary turnaround, Trump's spokeswoman Stephanie Grisham said just hours later that the president had been understood.

He did have regrets, she said, but not what everyone thought.

"He regrets not raising the tariffs higher," she explained.

At a breakfast meeting, British Prime Minister Boris Johnson became the latest of the G7 partners to urge Trump to step back from a trade war that critics fear could tip the world economy into recession.

"Just to register a faint, sheep-like note of our view on the trade war -- we are in favour of trade peace on the whole," Johnson told Trump.

Bashing the EU

The meeting with Johnson, who is sometimes compared to a British version of the populist, nationalist Trump, underlined the White House's dislike for the powerful European Union.

Trump has repeatedly threatened the EU with trade wars and right before his departure from Washington, he warned that he would slap wine import tariffs on France if Macron does not retreat on a tax against US tech giants.

The jovial breakfast with Johnson, who is trying to steer the Brexit process taking Britain out of the EU, emphasised that budding new alliance.

Predicting that Johnson would manage to untangle the mess of Brexit, Trump described in typically undiplomatic terms the EU as "an anchor around their ankle".

The 73-year-old US leader then promised Johnson a "very big trade deal, bigger than we've ever had."&nbsp;

Iranian Foreign Minister Mohammad Javad Zarif flew into Biarritz in southwestern France for the G7 summit on Sunday in an unexpected and dramatic attempt to break a diplomatic deadlock over Tehran's disputed nuclear programme.

Iranian Foreign Minister Mohammad Javad Zarif flew into Biarritz in southwestern France for the G7 summit on Sunday in an unexpected and dramatic attempt to break a diplomatic deadlock over Tehran's disputed nuclear programme. Zarif's presence had not been announced and represented a risky attempt by French host Emmanuel Macron to find a way to soothe spiralling tensions between Iran and the United States. He was not expected to hold face-to-face talks with US President Donald Trump, but the presence of the two men in the same place sparked hopes of a detente. Zarif will "continue talks regarding the recent measures between the presidents of Iran and France," Iranian foreign ministry spokesman Abbas Mousavi tweeted after flight tracking sites spotted that Zarif's plane had landed in Biarritz. The French presidency confirmed his arrival, but emphasised no talks were planned with the American side. A French diplomat also suggested -- without confirming -- that Trump had been made aware of the arrival during an impromptu two-hour lunch with Macron on a hotel terrace on Saturday. "We work with full transparency with the Americans," the diplomat told reporters on condition of anonymity. Watch: Iran wants US to rejoin 2015 nuclear deal × Also speaking in Biarritz, US Treasury Secretary Steven Mnuchin said that Trump had in the past said that if Iran "wants to sit down and negotiate he will not set preconditions." 'Moving in right direction' Macron held talks with Zarif in Paris on the eve of the G7 summit and has been leading efforts to bring Tehran and Washington back to the negotiating table. Trump's policy of applying "maximum pressure" on Tehran via crippling sanctions has been criticised by European powers and is seen as raising the risk of conflict in the Middle East. Macron has urged the US administration to offer some sort of relief to Iran, such as lifting sanctions on oil sales to China and India, or a new credit line to enable exports. "To start this approach we need President Trump to agree with the idea that we need to make a pause (in the "maximum pressure" policy)," a French diplomat told reporters last week. This is seen as a first step to get Iran back to the negotiating table, which could then lead to a new international agreement to limit its nuclear programme. Speaking to AFP last week, Zarif said that Macron's suggestions were "moving in the right direction, although we are not definitely there yet." Last year, Trump unilaterally pulled the US out of a landmark deal, of which Zarif had been a key architect, on the nuclear programme reached in 2015 between Iran, the US, European powers, Russia and China. Trade war doubts? Trump proclaimed Sunday that the G7 summit was going "beautifully," but there was no masking over cracks between the US president and his allies on many issues. Leaders of the G7 countries -- Britain, Canada, France, Germany, Italy, Japan and the United States -- put on a united front as they spent a second day in the high-end French surfing town of Biarritz. Trump arrived in Biarritz fresh from having drastically upped the ante in the trade war with China. European leaders lined up to press for caution and on Sunday Trump gave a glimmer of hope that he was reconsidering his all-or-nothing approach to the dispute between the world's two biggest economies. Asked whether he was having second thoughts about the trade war, Trump, in a rare moment of public self-doubt, replied: "I have second thoughts about everything." Then in an extraordinary turnaround, Trump's spokeswoman Stephanie Grisham said just hours later that the president had been understood. He did have regrets, she said, but not what everyone thought. "He regrets not raising the tariffs higher," she explained. At a breakfast meeting, British Prime Minister Boris Johnson became the latest of the G7 partners to urge Trump to step back from a trade war that critics fear could tip the world economy into recession. "Just to register a faint, sheep-like note of our view on the trade war -- we are in favour of trade peace on the whole," Johnson told Trump. Bashing the EU The meeting with Johnson, who is sometimes compared to a British version of the populist, nationalist Trump, underlined the White House's dislike for the powerful European Union. Trump has repeatedly threatened the EU with trade wars and right before his departure from Washington, he warned that he would slap wine import tariffs on France if Macron does not retreat on a tax against US tech giants. The jovial breakfast with Johnson, who is trying to steer the Brexit process taking Britain out of the EU, emphasised that budding new alliance. Predicting that Johnson would manage to untangle the mess of Brexit, Trump described in typically undiplomatic terms the EU as "an anchor around their ankle". The 73-year-old US leader then promised Johnson a "very big trade deal, bigger than we've ever had."

Iran's foreign minister Javad Zarif arrives for surprise G7 talks, no plan to meet US

US President Donald Trump and Japan's Prime Minister Shinzo Abe on Sunday announced a deal in principle on a major bilateral trade deal.

"It's a very big transaction," Trump said after talks with Abe on the sidelines of the G7 summit in the French resort town of Biarritz.

"Billions and billions of dollars," he said.

"It involves agriculture, it involves e-commerce. It involves many things. We've agreed in principle."

Abe confirmed the two nations had "successfully reached consensus" after "intense" negotiations.

Both leaders said they hoped for a formal signing during the UN General Assembly in New York next month.

However, Abe cautioned: "We still have some remaining work that has to be done… mainly finalising the wording."

US Trade Representative Robert Lighthizer said the agreement will especially benefit US farmers -- a politically important group for Trump in his uphill push for reelection in 2020.&nbsp;

Asked whether US tariffs already imposed on Japanese cars would be scrapped as a result of the deal, Lighthizer said some tariffs would be removed "but not those."

Trump also said the tariffs were "staying the same" but would not go up.

Bilateral alternative to TPP

Trump and Abe enjoy close ties but the US president has frequently claimed that Tokyo has an unfair advantage in bilateral trade.

Negotiators have agreed Japan will place tariffs on US agricultural products up to levels that apply to members of the Trans-Pacific Partnership (TPP) pact, Japan's public broadcaster NHK and major Japanese dailies reported.

Both sides agreed Japan will cut tariffs on US beef and pork to TPP levels, but will not set new quotas for butter and skimmed milk, NHK said, citing unnamed sources.

Japan has repeatedly said the extent of the opening up of its agricultural market would be within the concession it had made to members of the TPP pact.

After an abrupt US withdrawal from the TPP, 11 countries circling the Pacific last year signed a slimmed-down version of the trade deal, and the pact has been championed as an antidote to growing US protectionism under Trump.

The US president has since sparked fears of a trade war by levying steep tariffs and denouncing unfair trading practices.

The United States will eliminate levies on a wide range of Japanese industrial products, but its tariffs on Japanese automobiles will be left for further negotiations as Trump sees the US trade deficit with Japan as a problem, NHK said.

US President Donald Trump and Japan's Prime Minister Shinzo Abe on Sunday announced a deal in principle on a major bilateral trade deal. "It's a very big transaction," Trump said after talks with Abe on the sidelines of the G7 summit in the French resort town of Biarritz.

US President Donald Trump and Japan's Prime Minister Shinzo Abe on Sunday announced a deal in principle on a major bilateral trade deal. "It's a very big transaction," Trump said after talks with Abe on the sidelines of the G7 summit in the French resort town of Biarritz. "Billions and billions of dollars," he said. "It involves agriculture, it involves e-commerce. It involves many things. We've agreed in principle." Abe confirmed the two nations had "successfully reached consensus" after "intense" negotiations. Both leaders said they hoped for a formal signing during the UN General Assembly in New York next month. However, Abe cautioned: "We still have some remaining work that has to be done… mainly finalising the wording." US Trade Representative Robert Lighthizer said the agreement will especially benefit US farmers -- a politically important group for Trump in his uphill push for reelection in 2020. Asked whether US tariffs already imposed on Japanese cars would be scrapped as a result of the deal, Lighthizer said some tariffs would be removed "but not those." Trump also said the tariffs were "staying the same" but would not go up. Bilateral alternative to TPP Trump and Abe enjoy close ties but the US president has frequently claimed that Tokyo has an unfair advantage in bilateral trade. Negotiators have agreed Japan will place tariffs on US agricultural products up to levels that apply to members of the Trans-Pacific Partnership (TPP) pact, Japan's public broadcaster NHK and major Japanese dailies reported. Both sides agreed Japan will cut tariffs on US beef and pork to TPP levels, but will not set new quotas for butter and skimmed milk, NHK said, citing unnamed sources. Japan has repeatedly said the extent of the opening up of its agricultural market would be within the concession it had made to members of the TPP pact. After an abrupt US withdrawal from the TPP, 11 countries circling the Pacific last year signed a slimmed-down version of the trade deal, and the pact has been championed as an antidote to growing US protectionism under Trump. The US president has since sparked fears of a trade war by levying steep tariffs and denouncing unfair trading practices. The United States will eliminate levies on a wide range of Japanese industrial products, but its tariffs on Japanese automobiles will be left for further negotiations as Trump sees the US trade deficit with Japan as a problem, NHK said.

US, Japan agree trade deal 'in principle'

US Treasury Secretary Steven Mnuchin on Sunday backed up <a href="https://www.wionews.com/world/trumps-only-regret-on-china-is-not-raising-the-tariffs-higher-white-house-245529">Donald Trump</a>'s assertion that he indeed can force American companies to stop doing business in China, but noted he has yet to do so.

Mnuchin -- who was speaking on "Fox News Sunday" from France, where he was attending the G7 summit with Trump -- said that authority comes from the somewhat obscure International Emergency Economic Powers Act, a federal law passed in 1977.

The law grants the president powers to regulate international trade in the face of an "unusual and extraordinary threat" from abroad to US foreign policy, national security or the economy. But it has never been used to tip the scales in a trade dispute.

"He would have the authority to do that... He has not done that," Mnuchin said.

"I think what he was saying is that he is ordering companies to start looking," he added.

The Trump administration wants US businesses to operate in places where "trading partners respect us and trade with us fairly," Mnuchin added.

On Friday, Trump sounded the alarm just before announcing an escalation in tariffs on Chinese imports.

"Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA," he said on Twitter.

Top Trump economic aide Larry Kudlow, who was also with the president in France, said the president was within his rights to ban US firms from producing in China, but emphasized: "There's nothing right now in the cards."

"Come back to the USA, where we have very low corporate tax rates and massive deregulation programs," Kudlow said on CNN's "State of the Union."&nbsp;

"Our economy is doing just fine right now, and so come home."

Also on Sunday, Trump himself said on the issue: "I have no plan right now."&nbsp;

US Treasury Secretary Steven Mnuchin on Sunday backed up Donald Trump's assertion that he indeed can force American companies to stop doing business in China, but noted he has yet to do so.

US Treasury Secretary Steven Mnuchin on Sunday backed up Donald Trump's assertion that he indeed can force American companies to stop doing business in China, but noted he has yet to do so. Mnuchin -- who was speaking on "Fox News Sunday" from France, where he was attending the G7 summit with Trump -- said that authority comes from the somewhat obscure International Emergency Economic Powers Act, a federal law passed in 1977. The law grants the president powers to regulate international trade in the face of an "unusual and extraordinary threat" from abroad to US foreign policy, national security or the economy. But it has never been used to tip the scales in a trade dispute. "He would have the authority to do that... He has not done that," Mnuchin said. "I think what he was saying is that he is ordering companies to start looking," he added. The Trump administration wants US businesses to operate in places where "trading partners respect us and trade with us fairly," Mnuchin added. On Friday, Trump sounded the alarm just before announcing an escalation in tariffs on Chinese imports. "Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA," he said on Twitter. Top Trump economic aide Larry Kudlow, who was also with the president in France, said the president was within his rights to ban US firms from producing in China, but emphasized: "There's nothing right now in the cards." "Come back to the USA, where we have very low corporate tax rates and massive deregulation programs," Kudlow said on CNN's "State of the Union." "Our economy is doing just fine right now, and so come home." Also on Sunday, Trump himself said on the issue: "I have no plan right now."

Donald Trump could force US firms out of China but 'has not done that': US Treasury Secretary Steven Mnuchin

When President Donald Trump said on Sunday that he had second thoughts about escalating the<a href="https://www.wionews.com/world/china-hits-out-at-bullying-us-over-new-tariffs-245352"> trade war with China</a>, he meant that he wished he had raised tariffs on Beijing even higher, the White House said.

Trump, who announced higher tariffs on Chinese goods last week, raised eyebrows during a meeting with British Prime Minister Boris Johnson at the G7 when he responded in the affirmative to questions from reporters on whether he had any second thoughts about the tariff move.

White House spokeswoman Stephanie Grisham sought to explain the remark.

"His answer has been greatly misinterpreted. <a href="https://www.wionews.com/world/i-order-us-companies-to-immediately-look-for-an-alternative-to-china-trump-245191">President Trump</a> responded in the affirmative - because he regrets not raising the tariffs higher," she said in a statement.

Trump on Friday set an additional 5% duty on some $550 billion in targeted Chinese goods, hours after China unveiled retaliatory tariffs on $75 billion worth of US goods.

The moves were the latest round in a tit-for-tat trade war between the world`s two largest economies that has damaged global growth, upset allies, and raised market fears that the world economy will tip into a recession.

Watch: Trump slaps new tariffs on China, Additional 5% Tariff On Chinese Imports

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During his meeting with Johnson on Sunday in France, Trump was asked if he had second thoughts about his latest escalation.

"Yeah, sure. Why not?" he said.

The reporter repeated the question and Trump replied: "Might as well. Might as well."

A second reporter followed up again, asking if he had second thoughts about escalating the trade war with China.

"I have second thoughts about everything," Trump responded. 
The president's responses were unusual because he has been largely resolute in his demands that China changes its trade practices and that tariffs were a successful tool to encourage Beijing to do so.

On Friday, upset about China`s retaliation, the president said he was ordering U.S. companies to find alternatives to doing business in China and move operations back to the United States.

It was unclear what Trump could do to legally compel US companies to abandon China.

Asked on Sunday if he would declare a national emergency over the issue, Trump said he had the right to do so but had no plans in the works.

"I could declare a national emergency. I think when they steal and take out, and -- intellectual property theft, anywhere from $300 billion to $500 billion a year, and where we have a total loss of almost a trillion dollars a year ... in many ways, that`s an emergency," he said.

"I have no plan right now. We're getting along very well with China right now. We're talking. I think they want to make a deal much more than I do."

When President Donald Trump said on Sunday that he had second thoughts about escalating the trade war with China, he meant that he wished he had raised tariffs on Beijing even higher, the White House said.

When President Donald Trump said on Sunday that he had second thoughts about escalating the trade war with China, he meant that he wished he had raised tariffs on Beijing even higher, the White House said. Trump, who announced higher tariffs on Chinese goods last week, raised eyebrows during a meeting with British Prime Minister Boris Johnson at the G7 when he responded in the affirmative to questions from reporters on whether he had any second thoughts about the tariff move. White House spokeswoman Stephanie Grisham sought to explain the remark. "His answer has been greatly misinterpreted. President Trump responded in the affirmative - because he regrets not raising the tariffs higher," she said in a statement. Trump on Friday set an additional 5% duty on some $550 billion in targeted Chinese goods, hours after China unveiled retaliatory tariffs on $75 billion worth of US goods. The moves were the latest round in a tit-for-tat trade war between the world`s two largest economies that has damaged global growth, upset allies, and raised market fears that the world economy will tip into a recession. Watch: Trump slaps new tariffs on China, Additional 5% Tariff On Chinese Imports × During his meeting with Johnson on Sunday in France, Trump was asked if he had second thoughts about his latest escalation. "Yeah, sure. Why not?" he said. The reporter repeated the question and Trump replied: "Might as well. Might as well." A second reporter followed up again, asking if he had second thoughts about escalating the trade war with China. "I have second thoughts about everything," Trump responded. The president's responses were unusual because he has been largely resolute in his demands that China changes its trade practices and that tariffs were a successful tool to encourage Beijing to do so. On Friday, upset about China`s retaliation, the president said he was ordering U.S. companies to find alternatives to doing business in China and move operations back to the United States. It was unclear what Trump could do to legally compel US companies to abandon China. Asked on Sunday if he would declare a national emergency over the issue, Trump said he had the right to do so but had no plans in the works. "I could declare a national emergency. I think when they steal and take out, and -- intellectual property theft, anywhere from $300 billion to $500 billion a year, and where we have a total loss of almost a trillion dollars a year ... in many ways, that`s an emergency," he said. "I have no plan right now. We're getting along very well with China right now. We're talking. I think they want to make a deal much more than I do."

Trump's only regret on China is 'not raising the tariffs higher': White House

<a href="https://www.wionews.com/india-news/6-times-islamic-countries-honoured-pm-modi-with-their-highest-awards-245560">PM Modi</a> is all set to meet <a href="https://www.wionews.com/world/very-big-trade-deal-after-brexit-bigger-than-weve-ever-had-trumps-promise-to-uk-pm-boris-johnson-at-g7-245514">US President Donald Trump</a> on Monday at around 3.45 pm in France. The meeting is expected to last around 45 minutes till 4.30 pm.

The engagement will take place on the sidelines of the ongoing <a href="https://www.wionews.com/world/beneath-show-of-bonhomie-rifts-emerge-between-trump-and-western-allies-at-the-g7-summit-245543">G7 Summit</a> in Biarritz. This will be the second time when both world leaders will meet this year. They last met on the sidelines of the G20 Summit in Osaka, Japan a couple of months back.

Both the leaders will come face to face for the first time at the G7 Summit during Cultural Program and Leaders’ Dinner on Sunday evening.&nbsp;

The ongoing India-Pak situation in the backdrop of New Delhi removing the special status for the erstwhile state of Jammu and Kashmir is bound to be discussed.&nbsp;

"India’s decision to rescind Article 370 in Kashmir is an internal decision, but certainly with regional implications.&nbsp;And President Trump will likely want to hear how Prime Minister Modi intends to calm regional tensions in light of this significant move", a senior Trump administration official said during a teleconference on Trumps's G7 Summit.

Donald Trump has offered to mediate on Kashmir three times, something that has irked New Delhi which has made it clear that India, Pakistan ties follow Simla and Lahore agreements according to which no third party mediation is acceptable. Trade, defence ties and the Afghan peace process will also be discussed.&nbsp;

Senior Trump administration official said, "They will look for solutions on the trade front. The US is looking at India to reduce tariffs and open its markets."

Last week both the leaders spoke during which India had raised the rhetoric coming from Islamabad since August 5 that impacts regional stability.&nbsp;

All in all, PM Modi will have 4 bilaterals on the sidelines of the G7 Summit.

India is "Biarritz partner" country along with Australia, Chile, South Africa, Rwanda, Senegal, Egypt and Burkina Faso. Climate, biodiversity will be the main focuses of the 45th G7 Summit whose theme is "combating inequality".

It is after a gap of more than 10 years that India has been invited at the G7 Summit, the last time being 2005 when the then British Prime Minister Tony Blair had invited the then Indian Prime Minister Manmohan Singh at the Gleneagles Summit.

On Thursday PM was in France on a state visit and met with French President Emmanuel Macron for the 5th time.

PM Modi visited France in 2017 followed by the visit of the French President in 2018 and then meetings on the sidelines of G20 Summit in Argentina and Japan in December 2018 and June 2019, respectively. After his France visit, the prime minister went to the UAE and Bahrain where he met with the top leadership and launched RuPay card.

PM Modi is back in France for the G7 Summit.

PM Modi is all set to meet US President Donald Trump on Monday at around 3.45 pm in France. The meeting is expected to last around 45 minutes till 4.30 pm. The engagement will take place on the sidelines of the ongoing G7 Summit in Biarritz.

PM Modi is all set to meet US President Donald Trump on Monday at around 3.45 pm in France. The meeting is expected to last around 45 minutes till 4.30 pm. The engagement will take place on the sidelines of the ongoing G7 Summit in Biarritz. This will be the second time when both world leaders will meet this year. They last met on the sidelines of the G20 Summit in Osaka, Japan a couple of months back. Both the leaders will come face to face for the first time at the G7 Summit during Cultural Program and Leaders’ Dinner on Sunday evening. The ongoing India-Pak situation in the backdrop of New Delhi removing the special status for the erstwhile state of Jammu and Kashmir is bound to be discussed. "India’s decision to rescind Article 370 in Kashmir is an internal decision, but certainly with regional implications. And President Trump will likely want to hear how Prime Minister Modi intends to calm regional tensions in light of this significant move", a senior Trump administration official said during a teleconference on Trumps's G7 Summit. Donald Trump has offered to mediate on Kashmir three times, something that has irked New Delhi which has made it clear that India, Pakistan ties follow Simla and Lahore agreements according to which no third party mediation is acceptable. Trade, defence ties and the Afghan peace process will also be discussed. Senior Trump administration official said, "They will look for solutions on the trade front. The US is looking at India to reduce tariffs and open its markets." Last week both the leaders spoke during which India had raised the rhetoric coming from Islamabad since August 5 that impacts regional stability. All in all, PM Modi will have 4 bilaterals on the sidelines of the G7 Summit. India is "Biarritz partner" country along with Australia, Chile, South Africa, Rwanda, Senegal, Egypt and Burkina Faso. Climate, biodiversity will be the main focuses of the 45th G7 Summit whose theme is "combating inequality". It is after a gap of more than 10 years that India has been invited at the G7 Summit, the last time being 2005 when the then British Prime Minister Tony Blair had invited the then Indian Prime Minister Manmohan Singh at the Gleneagles Summit. On Thursday PM was in France on a state visit and met with French President Emmanuel Macron for the 5th time. PM Modi visited France in 2017 followed by the visit of the French President in 2018 and then meetings on the sidelines of G20 Summit in Argentina and Japan in December 2018 and June 2019, respectively. After his France visit, the prime minister went to the UAE and Bahrain where he met with the top leadership and launched RuPay card. PM Modi is back in France for the G7 Summit.

Second Modi-Trump meeting to take place on Monday in France

Several hundred anti-G7 protesters staged an unusual protest in southwestern France on Sunday, holding "stolen" portraits of <a href="https://www.wionews.com/world/frances-macron-says-real-ecocide-going-on-in-amazon-245341">French President Emmanuel Macron</a> which were held upside down in a pointed critique on his policies.&nbsp;

Demonstrators at the so-called "portrait march" were carrying official portraits of the 41-year-old French leader which had been taken down from town halls across the country over the last few months.

The climate and social justice march were organised by environmental activist group ANV COP 21, as well as two Basque groups Alternatiba et Bizi all of whom were marching under a slogan which pledged to "take down Macron".&nbsp;

"One, two, three degrees, it's a crime against humanity!" they chanted as they marched through the narrow streets of Bayonne near the southwestern French resort of Biarritz where <a href="https://www.wionews.com/world/trump-paints-picture-of-unity-at-prickly-g7-summit-245475">world leaders are gathering for the G7 summit</a>.

"We are holding him upside down to show the lack of sense in his policies," explained a Bizi activist called Mathieu.

Others also carried what appeared to be portraits wrapped up in bags or newspaper on which was written in French, English, Spanish and Basque: "Climate, social justice: where is Macron?"

"Taking down a portrait is civil disobedience, it's considered as theft" in some parts of France, said another demonstrator called Abram.

When the summit opened on Saturday, more than 9,000 protesters joined a peaceful anti-G7 march across a bridge linking France and Spain, police said, with organisers giving a figure of 15,000 marchers.&nbsp;

But later in the day, things heated up with police using tear gas and water cannon to break up protests in Bayonne, where hundreds chanted anti-capitalist slogans were blocked from reaching the city centre.

By Saturday evening, 68 people had been arrested, 38 of whom were taken into custody, officials said, without giving further details.&nbsp;

Anti-capitalist activists, environmentalists, and other anti-globalisation groups have since Monday been flocking to a counter-summit in nearby Hendaye, close to the Spanish border, which has largely been peaceful.&nbsp;

Biarritz is a popular tourist destination that would normally be basking in its annual summer boom, but with US President Donald Trump and other world leaders flying in for three days of talks, the resort was in lockdown.

France has deployed more than 13,000 police and gendarmes to secure the event amid fears of disturbances by radical anti-capitalist groups, anarchists or the yellow vest protesters. 
&nbsp;

Several hundred anti-G7 protesters staged an unusual protest in southwestern France on Sunday, holding "stolen" portraits of French President Emmanuel Macron which were held upside down in a pointed critique on his policies.

Several hundred anti-G7 protesters staged an unusual protest in southwestern France on Sunday, holding "stolen" portraits of French President Emmanuel Macron which were held upside down in a pointed critique on his policies. Demonstrators at the so-called "portrait march" were carrying official portraits of the 41-year-old French leader which had been taken down from town halls across the country over the last few months. The climate and social justice march were organised by environmental activist group ANV COP 21, as well as two Basque groups Alternatiba et Bizi all of whom were marching under a slogan which pledged to "take down Macron". "One, two, three degrees, it's a crime against humanity!" they chanted as they marched through the narrow streets of Bayonne near the southwestern French resort of Biarritz where world leaders are gathering for the G7 summit. "We are holding him upside down to show the lack of sense in his policies," explained a Bizi activist called Mathieu. Others also carried what appeared to be portraits wrapped up in bags or newspaper on which was written in French, English, Spanish and Basque: "Climate, social justice: where is Macron?" "Taking down a portrait is civil disobedience, it's considered as theft" in some parts of France, said another demonstrator called Abram. When the summit opened on Saturday, more than 9,000 protesters joined a peaceful anti-G7 march across a bridge linking France and Spain, police said, with organisers giving a figure of 15,000 marchers. But later in the day, things heated up with police using tear gas and water cannon to break up protests in Bayonne, where hundreds chanted anti-capitalist slogans were blocked from reaching the city centre. By Saturday evening, 68 people had been arrested, 38 of whom were taken into custody, officials said, without giving further details. Anti-capitalist activists, environmentalists, and other anti-globalisation groups have since Monday been flocking to a counter-summit in nearby Hendaye, close to the Spanish border, which has largely been peaceful. Biarritz is a popular tourist destination that would normally be basking in its annual summer boom, but with US President Donald Trump and other world leaders flying in for three days of talks, the resort was in lockdown. France has deployed more than 13,000 police and gendarmes to secure the event amid fears of disturbances by radical anti-capitalist groups, anarchists or the yellow vest protesters.

Anti-G7 activists march with 'stolen' Emmanuel Macron portraits

US President Donald Trump on Sunday denied signing off on a joint G7 message to Iran over its nuclear programme as announced by his French counterpart Emmanuel Macron.

"No, I haven't discussed that," Trump told reporters on the sidelines of the G7 summit in the southwestern French resort of Biarritz.

This contradicted Macron who shortly beforehand had said the G7 countries "agreed on what to say to Iran".

Trump said: "We’ll do our outreach. But you can’t stop people from talking. If they want to talk, they can talk."

A landmark 2015 nuclear deal between Western powers and Iran all but collapsed after Trump unilaterally withdrew US support last year, reimposing sanctions that have crippled Iran's economy.

Macron has been leading efforts to defuse the crisis by finding ways of resuming dialogue, meeting Iran's top diplomat Mohammad Javad Zarif for rare talks in Paris on Friday on the eve of the summit.

He has also held telephone talks with <a href="https://www.wionews.com/world/wont-wage-war-says-iran-president-hassan-rouhani-as-us-deploys-more-troops-to-middle-east-228306">President Hassan Rouhani</a>.

On Sunday, a diplomatic source said G7 leaders had mutually agreed to task Macron with sending a message to Iran.

"Emmanuel Macron was mandated to talk with Iran and address a message" to the country to avoid an escalation in the region, said the source.

US President Donald Trump on Sunday denied signing off on a joint G7 message to Iran over its nuclear programme as announced by his French counterpart Emmanuel Macron.

US President Donald Trump on Sunday denied signing off on a joint G7 message to Iran over its nuclear programme as announced by his French counterpart Emmanuel Macron. "No, I haven't discussed that," Trump told reporters on the sidelines of the G7 summit in the southwestern French resort of Biarritz. This contradicted Macron who shortly beforehand had said the G7 countries "agreed on what to say to Iran". Trump said: "We’ll do our outreach. But you can’t stop people from talking. If they want to talk, they can talk." A landmark 2015 nuclear deal between Western powers and Iran all but collapsed after Trump unilaterally withdrew US support last year, reimposing sanctions that have crippled Iran's economy. Macron has been leading efforts to defuse the crisis by finding ways of resuming dialogue, meeting Iran's top diplomat Mohammad Javad Zarif for rare talks in Paris on Friday on the eve of the summit. He has also held telephone talks with President Hassan Rouhani. On Sunday, a diplomatic source said G7 leaders had mutually agreed to task Macron with sending a message to Iran. "Emmanuel Macron was mandated to talk with Iran and address a message" to the country to avoid an escalation in the region, said the source.

Donald Trump says hasn't 'discussed' joint G7 message to Iran

Iran has blacklisted US-based think-tank the Foundation for Defense of Democracies and its chief Mark Dubowitz on accusations of being behind "economic terrorism" against the Islamic republic.

The<a href="https://www.wionews.com/world/irans-javad-zarif-heading-to-asia-in-push-against-us-sanctions-245310"> Iranian foreign ministry</a> said in a statement issued late Saturday that it had "added the so-called Foundation for Defence of Democracies (FDD) and its director to the sanctions list".

"The American institution with the deceitful name" and Dubowitz were accused of being involved in "designing, imposing and intensifying the impacts of economic terrorism against Iran", it said.

The FDD and Dubowitz were blamed for "seriously and actively trying to harm the Iranian people's security and vital interests", according to the English-language statement posted on the ministry's website.

They were accused of doing so through "fabricating and spreading lies, encouraging, providing consultations, lobbying, and launching a smear campaign" against Iran.

As a result, they would be "subject to legal consequences", it said.

The move would be "without prejudice to any further legal measures that the other administrative, judicial or security institutions and organisations may take" against them and their "collaborators and accomplices".

The FDD describes itself as a Washington-based "non-partisan research institute focusing on national security and foreign policy".

The think-tank responded to Tehran's move with a statement saying,&nbsp;"FDD considers its inclusion on any list put out by the regime as a badge of honour and looks forward to the day when Americans and others can visit a free and democratic Iran".

It strongly opposed the 2015 deal that saw world powers lift sanctions against Iran in return for limits on its nuclear programme.

Tensions between arch-foes Iran and the United States have escalated since President Donald Trump unilaterally withdrew the US from the accord last year and began reimposing sanctions against the Islamic republic.

Iran has blacklisted US-based think-tank the Foundation for Defense of Democracies and its chief Mark Dubowitz on accusations of being behind "economic terrorism" against the Islamic republic.

Iran has blacklisted US-based think-tank the Foundation for Defense of Democracies and its chief Mark Dubowitz on accusations of being behind "economic terrorism" against the Islamic republic. The Iranian foreign ministry said in a statement issued late Saturday that it had "added the so-called Foundation for Defence of Democracies (FDD) and its director to the sanctions list". "The American institution with the deceitful name" and Dubowitz were accused of being involved in "designing, imposing and intensifying the impacts of economic terrorism against Iran", it said. The FDD and Dubowitz were blamed for "seriously and actively trying to harm the Iranian people's security and vital interests", according to the English-language statement posted on the ministry's website. They were accused of doing so through "fabricating and spreading lies, encouraging, providing consultations, lobbying, and launching a smear campaign" against Iran. As a result, they would be "subject to legal consequences", it said. The move would be "without prejudice to any further legal measures that the other administrative, judicial or security institutions and organisations may take" against them and their "collaborators and accomplices". The FDD describes itself as a Washington-based "non-partisan research institute focusing on national security and foreign policy". The think-tank responded to Tehran's move with a statement saying, "FDD considers its inclusion on any list put out by the regime as a badge of honour and looks forward to the day when Americans and others can visit a free and democratic Iran". It strongly opposed the 2015 deal that saw world powers lift sanctions against Iran in return for limits on its nuclear programme. Tensions between arch-foes Iran and the United States have escalated since President Donald Trump unilaterally withdrew the US from the accord last year and began reimposing sanctions against the Islamic republic.

Iran blacklists US-based think-tank: Foreign ministry

There may be little relief on the horizon for investors in US energy companies, whose shares moved from darlings to dismal performers during <a href="https://www.wionews.com/world/wall-street-notches-all-time-highs-as-rate-cut-hopes-lift-investor-spirits-235406">Wall Street</a>'s record bull run and now face a shaky global economy, doubts about fossil fuel investments and general market scepticism.

Energy has been the worst-performing of the 11 S&amp;P 500 sectors this year, the worst performer since US President Donald Trump's 2016 election and the worst performer since the US bull stock market began more than a decade ago.

As a result, the S&amp;P 500 energy sector has its lowest weight in the overall S&amp;P 500 since at least 1995, according to Refinitiv Datastream data.&nbsp;

It represents under 5 per cent of the benchmark index, down from over 15 per cent in mid-2008, when oil prices reached historic highs at over $140 a barrel, nearly three times current levels.

But this year, the energy sector has even failed to keep pace with oil prices, despite their traditional tendency to move in the same direction.

The poor returns raised some hope that the sector will soon find a floor that would allow it to rebound, especially those stocks with appealing dividends, but that remains to be seen.&nbsp;

“The view of the sector, in general, has gotten to a point where it's a very difficult space for institutional investors to embrace because it`s been such a chronic underperformer,” said Walter Todd, chief investment officer at Greenwood Capital in South Carolina.

Since the current bull run began in March 2009, the S&amp;P 500, which many investors view as a proxy for the stock market, has soared well over 300 per cent, while the energy sector has climbed 32 per cent.&nbsp;

Oil prices are up relatively little throughout the bull market, which has largely overlapped with a US economic expansion characterized by modest growth and with a boom in shale exploration that helped make the country the world`s top oil producer.

This year, however, US crude prices have climbed over 18 per cent to about $54 a barrel against a 3 per cent drop for the energy sector, although there is a wide disparity in performance among the 28 S&amp;P 500 energy stocks.&nbsp;

“If you look over the last 18 to 24 months, the reason why this space is so frustrating is that when oil rallies, they rally but not nearly to the degree you think that they should," Todd said. "But then when oil comes in, they get crushed.”

Investors have become wary of energy companies in the past out-spending their cash flows and of drilling wells without adequate returns, said Pearce Hammond, managing director at Simmons Energy in Houston.

"Basically, they were destroying capital," Hammond said. "It seems like this year has been the year when investors said, 'Stop.' "

Trump has sought to cut regulations involving energy and other natural resources companies, but the sector has still struggled during his administration.

“If you remove regulation, you are inviting more drilling which then adds supply which means lower prices," said Christian Ledoux, chief investment officer at South Texas Money Management in San Antonio.

Trump's tariff battle against China is raising concerns about the economy.&nbsp;

Indeed, falling long-dated yields in the US Treasury market have inverted the yield curve, a warning sign that a recession could be looming.

This could particularly hit energy stocks.

“It’s an economically sensitive space and they are probably one of the largest victims of any trade war concerns,” said Burns McKinney, portfolio manager with Allianz Global Investors in Dallas.

Energy shares underperformed on Friday as trade tensions escalated and China threatened to impose tariffs on US crude oil imports for the first time.

Some investors avoid the fossil fuel industry as they worry about the companies impact on climate change.&nbsp;

"The oil and gas companies, for a lot of investors, have become a bit of a pariah," Hammond said.

To be sure, the energy stocks have lagged so much that some strategists and investors say they are becoming appealing.

Citigroup equity strategist Tobias Levkovich rates the sector "overweight," noting it is at its most attractive valuation relative to the S&amp;P 500 since 2002.&nbsp;

But in a recent report, Levkovich conceded, "We along with others struggle to perceive which catalysts encourage the Street to step back into the sector, short of a major supply disruption."

Some investors say energy shares could benefit simply from a catch-up trade with oil.&nbsp;

Another factor, High dividend payout rates among some companies as US Treasury yields have tumbled.&nbsp;

Exxon Mobil Corp's dividend yields 5 per cent, while Occidental Petroleum Corp yields 7per cent, compared to just a 1.54 per cent yield on the 10-year US Treasury note.

“If you stick to investment-grade rated companies, there’s a pretty small list of energy companies to invest in, and if you did that you’d probably be OK,” said Ledoux, whose firm's holdings include Chevron Corp.

However, Robert Pavlik, chief investment strategist at SlateStone Wealth, who is slightly underweight the sector, said he could sell energy holdings should the stocks rise to lock in profits.

"I don’t think that there is that much upside," Pavlik said. "Where is oil going to go if the whole industry continues to shift (to alternative energy) as it is and we are looking at a slowdown in the economy?"

There may be little relief on the horizon for investors in US energy companies, whose shares moved from darlings to dismal performers during Wall Street's record bull run and now face a shaky global economy, doubts about fossil fuel investments and general market scepticism.

There may be little relief on the horizon for investors in US energy companies, whose shares moved from darlings to dismal performers during Wall Street's record bull run and now face a shaky global economy, doubts about fossil fuel investments and general market scepticism. Energy has been the worst-performing of the 11 S&P 500 sectors this year, the worst performer since US President Donald Trump's 2016 election and the worst performer since the US bull stock market began more than a decade ago. As a result, the S&P 500 energy sector has its lowest weight in the overall S&P 500 since at least 1995, according to Refinitiv Datastream data. It represents under 5 per cent of the benchmark index, down from over 15 per cent in mid-2008, when oil prices reached historic highs at over $140 a barrel, nearly three times current levels. But this year, the energy sector has even failed to keep pace with oil prices, despite their traditional tendency to move in the same direction. The poor returns raised some hope that the sector will soon find a floor that would allow it to rebound, especially those stocks with appealing dividends, but that remains to be seen. “The view of the sector, in general, has gotten to a point where it's a very difficult space for institutional investors to embrace because it`s been such a chronic underperformer,” said Walter Todd, chief investment officer at Greenwood Capital in South Carolina. Since the current bull run began in March 2009, the S&P 500, which many investors view as a proxy for the stock market, has soared well over 300 per cent, while the energy sector has climbed 32 per cent. Oil prices are up relatively little throughout the bull market, which has largely overlapped with a US economic expansion characterized by modest growth and with a boom in shale exploration that helped make the country the world`s top oil producer. This year, however, US crude prices have climbed over 18 per cent to about $54 a barrel against a 3 per cent drop for the energy sector, although there is a wide disparity in performance among the 28 S&P 500 energy stocks. “If you look over the last 18 to 24 months, the reason why this space is so frustrating is that when oil rallies, they rally but not nearly to the degree you think that they should," Todd said. "But then when oil comes in, they get crushed.” Investors have become wary of energy companies in the past out-spending their cash flows and of drilling wells without adequate returns, said Pearce Hammond, managing director at Simmons Energy in Houston. "Basically, they were destroying capital," Hammond said. "It seems like this year has been the year when investors said, 'Stop.' " Trump has sought to cut regulations involving energy and other natural resources companies, but the sector has still struggled during his administration. “If you remove regulation, you are inviting more drilling which then adds supply which means lower prices," said Christian Ledoux, chief investment officer at South Texas Money Management in San Antonio. Trump's tariff battle against China is raising concerns about the economy. Indeed, falling long-dated yields in the US Treasury market have inverted the yield curve, a warning sign that a recession could be looming. This could particularly hit energy stocks. “It’s an economically sensitive space and they are probably one of the largest victims of any trade war concerns,” said Burns McKinney, portfolio manager with Allianz Global Investors in Dallas. Energy shares underperformed on Friday as trade tensions escalated and China threatened to impose tariffs on US crude oil imports for the first time. Some investors avoid the fossil fuel industry as they worry about the companies impact on climate change. "The oil and gas companies, for a lot of investors, have become a bit of a pariah," Hammond said. To be sure, the energy stocks have lagged so much that some strategists and investors say they are becoming appealing. Citigroup equity strategist Tobias Levkovich rates the sector "overweight," noting it is at its most attractive valuation relative to the S&P 500 since 2002. But in a recent report, Levkovich conceded, "We along with others struggle to perceive which catalysts encourage the Street to step back into the sector, short of a major supply disruption." Some investors say energy shares could benefit simply from a catch-up trade with oil. Another factor, High dividend payout rates among some companies as US Treasury yields have tumbled. Exxon Mobil Corp's dividend yields 5 per cent, while Occidental Petroleum Corp yields 7per cent, compared to just a 1.54 per cent yield on the 10-year US Treasury note. “If you stick to investment-grade rated companies, there’s a pretty small list of energy companies to invest in, and if you did that you’d probably be OK,” said Ledoux, whose firm's holdings include Chevron Corp. However, Robert Pavlik, chief investment strategist at SlateStone Wealth, who is slightly underweight the sector, said he could sell energy holdings should the stocks rise to lock in profits. "I don’t think that there is that much upside," Pavlik said. "Where is oil going to go if the whole industry continues to shift (to alternative energy) as it is and we are looking at a slowdown in the economy?"

No ready spark is seen for lagging US energy shares

US President Donald Trump insisted on Sunday that he was getting along well with leaders at a G7 summit in France, but rifts emerged with his Western allies on issues ranging from his trade war with China to Iran, North Korea and Russia.

US President Donald Trump insisted on Sunday that he was getting along well with leaders at a G7 summit in France, but rifts emerged with his Western allies on issues ranging from his trade war with China to Iran, North Korea and Russia. The G7 gathering is taking place against a backdrop of worries about a global economic downturn and coincides with an era of international disunity across an array of matters. "Before I arrived in France, the Fake and Disgusting News as saying that relations with the 6 others countries in the G-7 are very tense and that the two days of meetings will be a disaster," Trump wrote on Twitter shortly before meeting new British Prime Minister Boris Johnson. "Well, we are having very good meetings, the Leaders are getting along very well, and our Country, economically, is doing great - the talk of the world!" Tensions were quickly on show, however, as the first full day of talks between the leaders of Britain, Canada, France, Germany, Italy, Japan, and the United States got underway in the Basque coast resort of Biarritz in southwest France. Before leaving Washington Trump stepped up his tariff war with Beijing in a battle between the world's two largest economies that has spooked financial markets, and called on US companies to move out of China. Britain's Johnson voiced concern on Saturday about creeping protectionism and said those who support tariffs "are at risk of incurring the blame for the downturn in the global economy". Sitting across from Trump on Sunday, he said, "We're in favour of trade peace on the whole, and dialling it down if we can." Asked if he was being pressed by allies to relent in his standoff with China, Trump said, "I think they respect the trade war." Niche issues Underlining the multilateral discord even before the summit got underway, Trump threatened the meeting's host, saying Washington would tax French wine "as they've never seen before" unless Paris dropped a digital tax on US technology companies. Leaping into the fray, European Council President Donald Tusk, who takes part in the G7 discussions, warned the EU would respond "in-kind" if Trump acted on his threat. "This may be the last moment to restore our political community," Tusk told reporters on Saturday, giving a bleak assessment of Western relations. Looking to broaden the scope of the debate, French President Emmanuel Macron has invited several African leaders to discuss problems facing their continent, while leaders from India, Australia, Chile, and Spain are due to attend a dinner on Sunday where the focus will be on the environment and other issues. However, senior US officials accused Macron of looking "to fracture the G7" by focusing on "niche issues" rather than major global concerns. France denied this, pointing to Sunday's initial session covering the economy, trade, and security - areas that used to draw easy consensus but are now sources of great friction. Trump upended last year's G7 meeting in Canada, walking out early and disassociating himself from the final communique. Differences over Iran, North Korea, Russia In Biarritz, Trump appeared to brush aside French efforts to mediate with Iran, saying that while he was happy for Macron to reach out to Tehran to defuse tensions he would carry on with his initiatives. European leaders have struggled to tamp down the brewing confrontation between Iran and the United States since Trump pulled his country out of Iran's internationally brokered 2015 nuclear deal and reimposed sanctions on the Iranian economy. France said G7 leaders had agreed that Macron should hold talks and pass on messages to Iran. However, Trump, who has pushed a maximum pressure policy on Iran, distanced himself from the proposal, saying he had not even discussed it. Trump also appeared at odds with Japanese Prime Minister Shinzo Abe over the seriousness of North Korea's series of short-range missile launches. Trump, who prizes his relationship with North Korean leader Kim Jong-un, told reporters the launches did not violate an agreement and were in line with what others were doing. Abe, standing beside him, said they breached UN resolutions. The missile launches have complicated attempts to restart talks between US and North Korean negotiators over the future of Pyongyang's nuclear weapons and ballistic missile programmes. There was also disagreement in Biarritz over Trump’s calls for Russia to be readmitted to the group of advanced economies. Russia was excluded from what used to be the G8 in 2014 after it annexed Ukraine’s Crimea and then backed an anti-Kiev rebellion in the industrial region of Donbas in eastern Ukraine. Johnson said G7 leaders had a "lively" discussion about Russia and Trump, asked if his case for Moscow to be brought back into the fold had made headway, said it was a "work in progress". At the start of the day, Trump said Britain would have a major trade deal with Washington after it leaves the European Union. Asked what his advice on Brexit was for Johnson, he replied, "He needs no advice, he is the right man for the job". While the transatlantic rift is the starkest, there are also deep divisions within the European camp, with Johnson making his G7 debut at a time when he is struggling to persuade EU capitals to renegotiate Britain's exit from the bloc, which Johnson has said will happen on October 31 come what may. Macron added to the internal EU strains by unexpectedly threatening on Friday to block an EU trade deal with a group of South American states over Brazil's handling of fires that are ravaging the Amazon rainforest. Germany and Britain both voiced deep concern about the fires but said shooting down the ambitious Mercosur trade accord would not help save the Amazon.

Beneath show of bonhomie, rifts emerge between Donald Trump and Western allies at G7 summit

<a href="https://www.wionews.com/world/uks-boris-johnson-very-worried-about-trade-tensions-tariff-hikes-245371">British Prime Minister Boris Johnson </a>on Saturday urged US President Donald Trump to remove the "considerable barriers" for UK companies seeking to export to the American market, saying they risked impeding a free-trade deal after Brexit.

Speaking as the Group of Seven summit of top nations got underway in Biarritz, Johnson pointed to a string of UK products -- ranging from shower trays to Britain's beloved pork pies -- that he said were not allowed on the American market.

"I think there is a massive opportunity for Britain, but we must understand that it is not all going to be plain sailing," Johnson told reporters.

"There remain very considerable barriers in the US to British businesses which are not widely understood," he said, adding that he had raised this in telephone discussions with Trump, and would do so again when they meet for bilateral talks on Sunday morning.

"It is very important, if we are going to do a fantastic free trade deal, it is a free trade that works in the interests of British business," he said.

Johnson and other supporters of Britain's exit from the European Union see a trade deal with the US as key to making a success of Brexit, by creating new opportunities for British firms.

The issue could become a rare bone of contention between Johnson and Trump, with the pair having warm relations dating back to well before the British premier arrived in office last month.

Their meeting on Saturday will be their first face-to-face encounter since Johnson became prime minister.

In a flourish characteristic of Johnson, he complained in particular that Americans can't savour Britain's famed Melton Mowbray pork pies, which he said are sold even in Thailand and Iceland.

The pastries "are currently unable to enter the US market because of, I don't know, some sort of Food and Drug Administration restriction," he said, without specifying further.

"There are massive opportunities for UK companies to open up, to prise open the American market," he insisted.

"We intend to seize those opportunities but they are going to require our American friends to compromise and to open up their approach, because currently there are too many restrictions," he said.

British Prime Minister Boris Johnson on Saturday urged US President Donald Trump to remove the "considerable barriers" for UK companies seeking to export to the American market, saying they risked impeding a free-trade deal after Brexit.

British Prime Minister Boris Johnson on Saturday urged US President Donald Trump to remove the "considerable barriers" for UK companies seeking to export to the American market, saying they risked impeding a free-trade deal after Brexit. Speaking as the Group of Seven summit of top nations got underway in Biarritz, Johnson pointed to a string of UK products -- ranging from shower trays to Britain's beloved pork pies -- that he said were not allowed on the American market. "I think there is a massive opportunity for Britain, but we must understand that it is not all going to be plain sailing," Johnson told reporters. "There remain very considerable barriers in the US to British businesses which are not widely understood," he said, adding that he had raised this in telephone discussions with Trump, and would do so again when they meet for bilateral talks on Sunday morning. "It is very important, if we are going to do a fantastic free trade deal, it is a free trade that works in the interests of British business," he said. Johnson and other supporters of Britain's exit from the European Union see a trade deal with the US as key to making a success of Brexit, by creating new opportunities for British firms. The issue could become a rare bone of contention between Johnson and Trump, with the pair having warm relations dating back to well before the British premier arrived in office last month. Their meeting on Saturday will be their first face-to-face encounter since Johnson became prime minister. In a flourish characteristic of Johnson, he complained in particular that Americans can't savour Britain's famed Melton Mowbray pork pies, which he said are sold even in Thailand and Iceland. The pastries "are currently unable to enter the US market because of, I don't know, some sort of Food and Drug Administration restriction," he said, without specifying further. "There are massive opportunities for UK companies to open up, to prise open the American market," he insisted. "We intend to seize those opportunities but they are going to require our American friends to compromise and to open up their approach, because currently there are too many restrictions," he said.

Boris Johnson urges Trump to remove 'considerable barriers' for UK trade

Sheer admiration, adoration! Trump, Boris Johnson all praise for each other at G7 Summit

US President Donald Trump on Sunday backed British Prime Minister Boris Johnson as the "right man" for Brexit and sent mixed signals about his trade war with China at a G7 summit dominated by worries about the global economy.

Johnson and Trump were on obviously friendly terms as they sat down for a working breakfast in the southern French resort of Biarritz where Group of Seven leaders are gathering this weekend.

"He's going to be a fantastic prime minister," Trump said in their first meeting since Johnson took office last month.&nbsp;

Asked what his advice was for Brexit, Trump replied,&nbsp;"He needs no advice. He's the right man for the job. I've been saying that for a long time."

In the lead-up to the talks, Johnson had appeared at pains to distance himself from Trump after facing accusations in the past of being too cosy with the American leader.

And at their meeting, Johnson again pressed a common message from European leaders at the summit about Trump's escalating trade war with China.

"Just to register a faint, sheep-like note of our view on the trade war -- we are in favour of trade peace on the whole," Johnson told Trump.

The 73-year-old US leader promised Johnson "very big trade deal, bigger than we've ever had", but couldn't resist another undiplomatic dig at the European Union.

Trump compared it to an "anchor around their ankle".&nbsp;

'Respect the trade war'

But to the relief of his partners, Trump also appeared to back off from a threatened further escalation in his battle with China.

"I think they respect the trade war. It has to happen," Trump told reporters.

Asked whether he was having second thoughts, he replied,&nbsp;"I have second thoughts about everything."&nbsp;

The Basque resort of Biarritz, which at this time of year usually teems with surfers and sunbathers, has been turned into a fortress for the G7 event with over 13,000 police on duty.

An anti-capitalism demonstration in nearby Bayonne turned ugly Saturday night when the crowd of several hundred tried to get through police barricades and was repelled with water cannon and tear gas.

Earlier on Saturday, organisers in the French border town of Hendaye said 15,000 people rallied in a peaceful march over the Bidassoa River towards the Spanish town of Irun.

G7 summits, gathering Britain, Canada, France, Germany, Italy, Japan and the United States, were once a meeting of like-minded allies, but they have become a diplomatic battlefield in the Trump era.

"This may be the last moment to restore our political community," EU Council President Donald Tusk said on Saturday.

Iran divisions

Over an open dinner of red tuna at the foot of a landmark lighthouse in the famed surf town of Biarritz, the leaders began talks on Saturday night attempting to narrow their differences.

The US-China trade war, but also fires in the Amazon and the Iranian nuclear crisis, were on the menu.

"You did very well last night President Macron," Johnson told his French host as the leaders met for a session to discuss the world economy. "That was a difficult one."

In a sign of the difficulties, Macron thought he had agreed a common G7 position on Iran to try to find a way out of the current impasse that has seen tensions spiral in the Middle East.

Macron said in an interview to French television that they had "agreed on what to say to Iran".

But Trump, who has previously accused Macron of sending "mixed signals" to Iran, denied it.

"We’ll do our own outreach. But you can't stop people from talking. If they want to talk, they can talk," he said.

In a radical break from previous meetings of the elite club, there is to be no final statement at the end of the talks on Monday, an admission of lowered expectations.

Macron has also invited several world leaders from outside the G7 such as India's Narendra Modi and Egyptian President Abdel Fattah al-Sisi who will join the meeting on Sunday.

Macron is also pushing for action against fires in the Amazon rainforest, despite Brazilian right-wing President Jair Bolsonaro's angry response to what he sees as outside interference.

US President Donald Trump on Sunday backed British Prime Minister Boris Johnson as the "right man" for Brexit and sent mixed signals about his trade war with China at a G7 summit dominated by worries about the global economy.

US President Donald Trump on Sunday backed British Prime Minister Boris Johnson as the "right man" for Brexit and sent mixed signals about his trade war with China at a G7 summit dominated by worries about the global economy. Johnson and Trump were on obviously friendly terms as they sat down for a working breakfast in the southern French resort of Biarritz where Group of Seven leaders are gathering this weekend. "He's going to be a fantastic prime minister," Trump said in their first meeting since Johnson took office last month. Asked what his advice was for Brexit, Trump replied, "He needs no advice. He's the right man for the job. I've been saying that for a long time." In the lead-up to the talks, Johnson had appeared at pains to distance himself from Trump after facing accusations in the past of being too cosy with the American leader. And at their meeting, Johnson again pressed a common message from European leaders at the summit about Trump's escalating trade war with China. "Just to register a faint, sheep-like note of our view on the trade war -- we are in favour of trade peace on the whole," Johnson told Trump. The 73-year-old US leader promised Johnson "very big trade deal, bigger than we've ever had", but couldn't resist another undiplomatic dig at the European Union. Trump compared it to an "anchor around their ankle". 'Respect the trade war' But to the relief of his partners, Trump also appeared to back off from a threatened further escalation in his battle with China. "I think they respect the trade war. It has to happen," Trump told reporters. Asked whether he was having second thoughts, he replied, "I have second thoughts about everything." The Basque resort of Biarritz, which at this time of year usually teems with surfers and sunbathers, has been turned into a fortress for the G7 event with over 13,000 police on duty. An anti-capitalism demonstration in nearby Bayonne turned ugly Saturday night when the crowd of several hundred tried to get through police barricades and was repelled with water cannon and tear gas. Earlier on Saturday, organisers in the French border town of Hendaye said 15,000 people rallied in a peaceful march over the Bidassoa River towards the Spanish town of Irun. G7 summits, gathering Britain, Canada, France, Germany, Italy, Japan and the United States, were once a meeting of like-minded allies, but they have become a diplomatic battlefield in the Trump era. "This may be the last moment to restore our political community," EU Council President Donald Tusk said on Saturday. Iran divisions Over an open dinner of red tuna at the foot of a landmark lighthouse in the famed surf town of Biarritz, the leaders began talks on Saturday night attempting to narrow their differences. The US-China trade war, but also fires in the Amazon and the Iranian nuclear crisis, were on the menu. "You did very well last night President Macron," Johnson told his French host as the leaders met for a session to discuss the world economy. "That was a difficult one." In a sign of the difficulties, Macron thought he had agreed a common G7 position on Iran to try to find a way out of the current impasse that has seen tensions spiral in the Middle East. Macron said in an interview to French television that they had "agreed on what to say to Iran". But Trump, who has previously accused Macron of sending "mixed signals" to Iran, denied it. "We’ll do our own outreach. But you can't stop people from talking. If they want to talk, they can talk," he said. In a radical break from previous meetings of the elite club, there is to be no final statement at the end of the talks on Monday, an admission of lowered expectations. Macron has also invited several world leaders from outside the G7 such as India's Narendra Modi and Egyptian President Abdel Fattah al-Sisi who will join the meeting on Sunday. Macron is also pushing for action against fires in the Amazon rainforest, despite Brazilian right-wing President Jair Bolsonaro's angry response to what he sees as outside interference.

Very big trade deal after Brexit, bigger than we've ever had: Trump's promise to UK PM Boris Johnson at G7

US&nbsp;President Donald Trump and Japanese Prime Minister Shinzo Abe displayed their differences over the seriousness of North Korea's series of short-range&nbsp;missile&nbsp;launches on Sunday while maintaining that they would remain in sync on the issue.

Trump, who <a href="https://www.wionews.com/world/trump-says-us-has-really-good-relationship-with-north-korea-245245">prizes his relationship with North Korean leader Kim Jong-un</a>, said the launches did not violate an agreement and were in line with what others were doing. Abe said the launches violated UN&nbsp;resolutions.

Launches of <a href="https://www.wionews.com/world/north-korea-launches-short-range-missiles-again-complicating-us-attempts-for-talks-245221">short-range ballistic&nbsp;missiles on Saturday</a> were the seventh by North Korea since Trump and Kim met at the inter-Korean border in June.

The launches have complicated attempts to restart talks between US&nbsp;and North Korean negotiators over the future of Pyongyang's nuclear weapons and ballistic&nbsp;missile&nbsp;programmes.

North Korean leader Kim Jong-Un oversaw the test of a "super-large multiple rocket launcher" on Saturday, state news agency KCNA reported on Sunday.

North Korea fired what appeared to be two short-range ballistic missiles into the sea off its east coast, the South Korean military said, the latest in a series of launches in recent weeks amid stalled denuclearization talks.

Photos released by North Korean state media showed rockets launching from large tubes mounted on the back of an eight-wheel vehicle.

Watch:&nbsp;North Korea fires two suspected missiles, 7th missile in a month

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Analysts said it appeared to be at least the fourth new missile system unveiled by North Korea since denuclearization talks stalled at a February summit between Kim and US&nbsp;President Donald Trump.

North Korea must step up development of new strategic and tactical weapons to counter "ever-mounting military threats and pressure offensive of the hostile forces," Kim said on Saturday, according to KCNA.

North Korea's young defence scientists who developed the missiles are a "precious treasure and wealth of the country which cannot be bartered for anything," Kim said.

On Saturday, a KCNA commentary said North Korea "will never barter the strategic security of the country for the sanctions relief."

American officials have been trying to restart the stalled talks with North Korea over its nuclear weapons and ballistic missile programs, which are heavily sanctioned.

After the latest tests, Trump again touted his good relationship with Kim and said the North Korean leader had been "pretty straight with me."

US President Donald Trump and Japanese Prime Minister Shinzo Abe displayed their differences over the seriousness of North Korea's series of short-range missile launches on Sunday while maintaining that they would remain in sync on the issue.

US President Donald Trump and Japanese Prime Minister Shinzo Abe displayed their differences over the seriousness of North Korea's series of short-range missile launches on Sunday while maintaining that they would remain in sync on the issue. Trump, who prizes his relationship with North Korean leader Kim Jong-un, said the launches did not violate an agreement and were in line with what others were doing. Abe said the launches violated UN resolutions. Launches of short-range ballistic missiles on Saturday were the seventh by North Korea since Trump and Kim met at the inter-Korean border in June. The launches have complicated attempts to restart talks between US and North Korean negotiators over the future of Pyongyang's nuclear weapons and ballistic missile programmes. North Korean leader Kim Jong-Un oversaw the test of a "super-large multiple rocket launcher" on Saturday, state news agency KCNA reported on Sunday. North Korea fired what appeared to be two short-range ballistic missiles into the sea off its east coast, the South Korean military said, the latest in a series of launches in recent weeks amid stalled denuclearization talks. Photos released by North Korean state media showed rockets launching from large tubes mounted on the back of an eight-wheel vehicle. Watch: North Korea fires two suspected missiles, 7th missile in a month × Analysts said it appeared to be at least the fourth new missile system unveiled by North Korea since denuclearization talks stalled at a February summit between Kim and US President Donald Trump. North Korea must step up development of new strategic and tactical weapons to counter "ever-mounting military threats and pressure offensive of the hostile forces," Kim said on Saturday, according to KCNA. North Korea's young defence scientists who developed the missiles are a "precious treasure and wealth of the country which cannot be bartered for anything," Kim said. On Saturday, a KCNA commentary said North Korea "will never barter the strategic security of the country for the sanctions relief." American officials have been trying to restart the stalled talks with North Korea over its nuclear weapons and ballistic missile programs, which are heavily sanctioned. After the latest tests, Trump again touted his good relationship with Kim and said the North Korean leader had been "pretty straight with me."

Japan's Abe refutes Trump, says North Korea missile launches violate UN resolutions

<a href="https://www.wionews.com/world/trump-says-us-would-tax-french-wine-in-response-to-digital-tax-245250">US President Donald Trump</a> on Sunday said he was getting along well with his Western allies at a <a href="https://www.wionews.com/world/trade-and-economy-in-focus-as-g7-leaders-get-down-to-work-245426">G7 summit in France</a>, dismissing reports of rifts among leaders as they prepared to discuss global trade woes.

The G7 gathering is taking place against a backdrop of growing worries about a global economic downturn and coincides with an era of international disunity across an array of issues that have strained decades-old allegiances.

"Before I arrived in France, the Fake and Disgusting News was saying that relations with the 6 others countries in the G-7 are very tense, and that the two days of meetings will be a disaster," Trump wrote on Twitter shortly before meeting British Prime Minister Boris Johnson.

"Well, we are having very good meetings, the Leaders are getting along very well, and our Country, economically, is doing great - the talk of the world!"

However, major policy differences over trade protectionism, climate change, Iran and France's push for a universal tax on digital technology giants clouded the run-up to the summit in the Atlantic coastal resort of Biarritz.

Trump arrived in France just hours after escalating his trade war with China in a tit-for-tat battle between the world's two largest economies that has spooked financial markets.

"I am very worried about the way it's going, the growth of protectionism, of tariffs that we're seeing," the UK's Johnson said on Saturday.

"Those who support the tariffs are at risk of incurring the blame for the downturn in the global economy, irrespective of whether or not that is true."

Underlining the discord, Trump also threatened his host on the eve of the summit, saying the United States would tax French wine "like they've never seen before" unless Paris dropped a digital tax on US&nbsp;technology companies.

Leaping into the fray, European Council President Donald Tusk, who takes part in the G7 discussions, warned the EU would respond "in kind" if Trump acted on his threat.

"This may be the last moment to restore our political community," Tusk told reporters on Saturday, giving a bleak assessment of Western relations.

Looking to broaden the scope of the debate, Macron has invited several African leaders to discuss the problems facing their continent, while leaders from India, Australia, Chile and Spain are due to attend a dinner on Sunday where the focus will be on the environment and other issues.

Brexit squabbles

Trump up-ended last year's G7 summit in Canada, walking out of the meeting early and disassociating himself from the final communique having initially endorsed the document.

The delegations had barely arrived in Biarritz before differences were exposed, with senior US&nbsp;officials accusing the host, French President Emmanuel Macron, of looking "to fracture the G7" by focusing on "niche issues" rather than major global concerns.

France denied this, pointing to Sunday's initial session covering the economy, trade and security - areas that used to draw easy consensus but are now sources of great friction.

Overnight, Trump wrote on Twitter that lunch with Macron was the best meeting the pair had yet had, and that a meeting with world leaders on Saturday evening also "went very well."

France has got around the communique problem by doing away with the time-honoured document, deciding it was not worth even trying to find common language.

While the transatlantic rift is the most stark, there are also deep divisions within the European camp, with Johnson making his G7 debut at a time when he is struggling to persuade EU capitals to renegotiate Britain's exit from the bloc.

Johnson and Tusk, who are due to talk on Sunday, sparred ahead of the meeting over who would take the blame if Britain leaves the EU on October 31 without a Brexit agreement acceptable to both sides.

"I still hope that PM Johnson will not like to go down in history as Mr No Deal," said Tusk, who leads the political direction of the 28-nation EU.

Johnson later retorted that it would be Tusk himself who would carry that mantle if Britain could not secure a new withdrawal agreement.

Macron added to the internal EU strains by unexpectedly threatening on Friday to block an EU trade deal with a group of South American states over Brazil's handling of fires that are ravaging the Amazon rainforest.

Germany and Britain both voiced deep concern about the fires, but disagreed with Macron on how to respond, saying shooting down the ambitious Mercosur trade accord would not help save the Amazon.

US President Donald Trump on Sunday said he was getting along well with his Western allies at a G7 summit in France, dismissing reports of rifts among leaders as they prepared to discuss global trade woes.

US President Donald Trump on Sunday said he was getting along well with his Western allies at a G7 summit in France, dismissing reports of rifts among leaders as they prepared to discuss global trade woes. The G7 gathering is taking place against a backdrop of growing worries about a global economic downturn and coincides with an era of international disunity across an array of issues that have strained decades-old allegiances. "Before I arrived in France, the Fake and Disgusting News was saying that relations with the 6 others countries in the G-7 are very tense, and that the two days of meetings will be a disaster," Trump wrote on Twitter shortly before meeting British Prime Minister Boris Johnson. "Well, we are having very good meetings, the Leaders are getting along very well, and our Country, economically, is doing great - the talk of the world!" However, major policy differences over trade protectionism, climate change, Iran and France's push for a universal tax on digital technology giants clouded the run-up to the summit in the Atlantic coastal resort of Biarritz. Trump arrived in France just hours after escalating his trade war with China in a tit-for-tat battle between the world's two largest economies that has spooked financial markets. "I am very worried about the way it's going, the growth of protectionism, of tariffs that we're seeing," the UK's Johnson said on Saturday. "Those who support the tariffs are at risk of incurring the blame for the downturn in the global economy, irrespective of whether or not that is true." Underlining the discord, Trump also threatened his host on the eve of the summit, saying the United States would tax French wine "like they've never seen before" unless Paris dropped a digital tax on US technology companies. Leaping into the fray, European Council President Donald Tusk, who takes part in the G7 discussions, warned the EU would respond "in kind" if Trump acted on his threat. "This may be the last moment to restore our political community," Tusk told reporters on Saturday, giving a bleak assessment of Western relations. Looking to broaden the scope of the debate, Macron has invited several African leaders to discuss the problems facing their continent, while leaders from India, Australia, Chile and Spain are due to attend a dinner on Sunday where the focus will be on the environment and other issues. Brexit squabbles Trump up-ended last year's G7 summit in Canada, walking out of the meeting early and disassociating himself from the final communique having initially endorsed the document. The delegations had barely arrived in Biarritz before differences were exposed, with senior US officials accusing the host, French President Emmanuel Macron, of looking "to fracture the G7" by focusing on "niche issues" rather than major global concerns. France denied this, pointing to Sunday's initial session covering the economy, trade and security - areas that used to draw easy consensus but are now sources of great friction. Overnight, Trump wrote on Twitter that lunch with Macron was the best meeting the pair had yet had, and that a meeting with world leaders on Saturday evening also "went very well." France has got around the communique problem by doing away with the time-honoured document, deciding it was not worth even trying to find common language. While the transatlantic rift is the most stark, there are also deep divisions within the European camp, with Johnson making his G7 debut at a time when he is struggling to persuade EU capitals to renegotiate Britain's exit from the bloc. Johnson and Tusk, who are due to talk on Sunday, sparred ahead of the meeting over who would take the blame if Britain leaves the EU on October 31 without a Brexit agreement acceptable to both sides. "I still hope that PM Johnson will not like to go down in history as Mr No Deal," said Tusk, who leads the political direction of the 28-nation EU. Johnson later retorted that it would be Tusk himself who would carry that mantle if Britain could not secure a new withdrawal agreement. Macron added to the internal EU strains by unexpectedly threatening on Friday to block an EU trade deal with a group of South American states over Brazil's handling of fires that are ravaging the Amazon rainforest. Germany and Britain both voiced deep concern about the fires, but disagreed with Macron on how to respond, saying shooting down the ambitious Mercosur trade accord would not help save the Amazon.

Trump paints picture of unity at prickly G7 summit amid reports of rifts among leaders

Ahead of the one on one between US President Donald Trump and Indian Prime Minister Narendra Modi on Monday on the sidelines of the G7 summit in France, Washington has made it clear that removing the special status for the erstwhile state of Jammu and Kashmir is India's internal matter even as it called Pakistan to rein in terror groups.

Ahead of the one on one between US President Donald Trump and Indian Prime Minister Narendra Modi on Monday on the sidelines of the G7 summit in France, Washington has made it clear that removing the special status for the erstwhile state of Jammu and Kashmir is India's internal matter even as it called Pakistan to rein in terror groups. During a press briefing as Trump heads to France for G7, a senior Trump administration official said, "India’s decision to rescind Article 370 in Kashmir is an internal decision, but certainly with regional implications." The official said, while "President is likely to stress the need for dialogue among all sides of the conflict", he has also been "calling on Pakistan to prevent the infiltration of militants across the line of control that divides Kashmir and to crack down on groups on its territory that have attacked India in the past." The February 14 terror attack in Pulwama, the worst terror attack on Indian soil, was perpetrated by Pakistan based United Nations listed terror group Jaish-e-Mohammed. × Trump is also expected to urge from PM how he plans to "uphold respect for human rights for Kashmir" The one on one at the 45th G7 Summit in Biarritz, France comes almost two months after both leaders met on the sidelines of the G20 summit in Osaka, Japan. On Trump's offer to mediate between India and Pakistan, the White House official said no formal request has come from India. He said, "he has indicated -- that he is ready to assist if both sides are interested in helping to reduce their tensions. But we just note that India has not requested any formal mediation." Since the meet in Osaka, both leaders had a telephone conversation earlier this week during which along with Pakistan and Afghanistan, trade was also a key issue. The official said, "US is looking to India to reduce tariffs and open its markets."

US says abrogation of Article 370 India's internal matter, asks Pakistan to rein in terror groups

Donald Trump likely to push for India-Pak talk. Watch video to know more.

Donald Trump likely to push for India-Pak talk

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