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G7 nations lambast the White House for undermining open trade

Canadian Prime Minister Justin Trudeau
Canadian Prime Minister Justin Trudeau. Photo: David L. Ryan/The Boston Globe via Getty Images

President Trump's announcement that the U.S. is slapping new tariffs on its neighbors and confidants, is driving a wedge between the U.S. and its closest allies, with finance ministers of G7 nations lambasting the White House for undermining open trade, per the AP.

The big picture: Trump's trade war is extending far beyond China. Last week, the administration announced a decision to impose a 25% percent tariff on steel and a 10 percent tariff on aluminum from the European Union, Canada and Mexico.