Investors are also concerned about the future of the North American Free Trade Agreement, which Trump has threatened to terminate.
"What we did this weekend was come together, roll up our sleeves and figure out a consensus language that we could all agree to", Trudeau said in the town of La Malbaie where leaders have been meeting since Friday morning. Mexico slapped a 25% import tariff on US steel products, as well as 20% on pork products, 25% on bourbon and duties on other agricultural goods including cranberries.
He says he spoke with world leaders about his trade policies and called for the elimination of tariffs, trade barriers or subsidies.
Canada has already said it will impose some $16.5 billion in new tariffs on USA goods ranging from lawn mowers to felt-tipped pens in response to the new 10 per cent levy on the country's aluminum and the 25 per cent tariff on Canadian steel.
He branded the EU as "brutal" in business and warned countries it would be a "mistake" to retaliate against his 25% tariffs on steel and 10% on aluminium from countries including the United Kingdom and members of the European Union.
Macron had so far taken a more conciliatory tone with Trump, whom he calls his "friend". And he emphasized a "good relationship" with Macron, saying they sometimes have a "little test" on trade, but predicting a positive outcome.
Ahead of his departure, Trump had criticised his predecessors for negotiating "unfair" trade deals. He has said a U.S.
Trudeau's office responded later, saying they were focused on what was accomplished at the G7 summit and that the prime minister said nothing at the press conference that he hadn't mentioned "before - both in public, and in private conversations with the President".
Once again, he emphasized that the days of the US getting the short end of the stick in its trading relationships with the world were over under his watch. Canada and Mexico are also taking action in retaliation. "It is going to stop or we are going to stop trading with them".
U.S. President Donald Trump and Managing Director of the International Monetary Fund Christine Lagarde attend a G7 and Gender Equality Advisory Council meeting as part of a G7 summit in the Charlevoix city of La Malbaie, Quebec, Canada, June 9, 2018.
Media captionDairy wars: Why is Trump threatening Canada over milk?
Trudeau refused, and the meeting was off.
When Trump left Quebec it was thought that a compromise had been reached, despite the tension and determination of European leaders President Emmanuel Macron of France and Chancellor Angela Merkel of Germany to push back on Trump's assault on the world trade system.
"To be safe, whenever you see a link that goes to any article on the "newyorker.com" website, always check if the rest of the link says "/humor/borowitz-report/" somewhere. -Canada deal will be easier to achieve given the similarities of the two advanced economies. The G7 minus the United States agreed to cooperate on climate change.