Trump hits out at allies and says fair trade should be called 'fool trade'

Rebecca Smith
Trump said he would not allow America to be taken advantage of on trade
Trump said he would not allow America to be taken advantage of on trade (Source: Getty)

US President Donald Trump has criticised some of America's key allies in the wake of a tense G7 summit in Canada, saying the US protects Europe "at great financial loss" and then gets "unfairly clobbered on trade".

Taking to his favoured platform of Twitter, Trump typed out a string of angry tweets saying the US paid "close to the entire cost of NATO", protecting many of the same countries that then "rip us off on trade".

The President added that "change is coming", and that no longer would the US let its "friends, or enemies" take advantage of the country on trade.

Read more: Trump advisers say Trudeau 'stabbed US in the back' as tariff anger mounts

"We must put the American worker first," he said.

Trump's Twitter tirade came after two of his top economic advisers accused Canadian leader Justin Trudeau of stabbing the US President in the back.

Trump had left the other nations at the G7 reeling after he pulled out of a joint communique following the meeting on Twitter, hinting that a drawn-out trade war could be on the cards.

Peter Navarro, the White House National Trade Council leader, told Fox News: “There’s a special place in hell for any foreign leader that engages in bad faith diplomacy with President Donald J. Trump and then tries to stab him in the back on the way out the door.”

Larry Kudlow, the director of the National Economic Council, meanwhile, said Trudeau had “really kind of stabbed us in the back”.

He had criticised US tariffs at a press conference, as Trump was leaving early to meet North Korean leader Kim Jong-Un.

Read more: Trump decides to leave G7 meeting in Quebec early after trade dispute

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