And according to overnight newsflow, that is indeed the case and that if Merkel was hoping to "soften" Trump up by warning about the upcoming showdown between the US and the rest of the world, she made a mistake, because wires report that President Trump is said to be planning on adopting a confrontational tone at G7 in response to the other 6 nations collectively pressuring him regarding tariffs.
Which, of course, is hardly a major discover: after all "adopting a confrontational tone" is what Trump does, period. However, now that it has been formalized, this may actually be a G-7 meeting - traditionally boring and slow-moving - worth watching closely, if only for how the world's 6 most advanced nations + America will try to contain the fall out from what will likely be the first documented failure of globalization.
Meanwhile, Bloomberg reports that France joined Germany in warning US President Trump that they will not sign a joint statement at the G7 summit, with President Macron warning that progress must be made on tariffs and other contentious issues. Macron has concluded that other G-7 leaders must stand up to the American president, according to the Bloomberg source. Commenting on this particular threat, UBS chief economist Paul Donovan said:
The EU announced a list of products subject to a 25% consumer tax – products all partially made in the US. Ahead of tomorrow's G6 plus 1 summit, French President Macron indicated France may not sign the statement if the US does not change its approach. Clearly, this is a terrifying threat (though it does rather emphasise US isolationism, which markets may worry about).