The U.S. President reiterated his regard for tariffs as the other G7 members seek answers about the U.S.'s shifting trade and foreign policies.

U.S. President Donald Trump kicked off the Group of Seven (G7) summit on Monday, saying he is a “tariff person.”

As the Trump administration hunts for its second deal since the announcement of a pause on the ‘Liberation Day’ tariffs, President Trump reiterated his regard for tariffs as the other G7 members look for answers about the U.S.'s shifting trade and foreign policies, according to a report by CBS News.

Meanwhile, U.S. equity markets surged as the Israel-Iran conflict showed signs of being contained.

The SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up 0.92% at the time of writing, while the Invesco QQQ Trust (QQQ) surged 1.38%.

“I'm a tariff person, I've always been a tariff person,” Trump said, speaking alongside Canadian Prime Minister Mark Carney at the G7 summit.

As for an agreement with the northern neighbor, President Trump said a deal is possible.

"We've developed a very good relationship, and we're going to be talking about trade and many other things,” he said.

The G7 comprises the U.S., the U.K., Japan, Germany, France, Italy, and Canada. Representatives and leaders from the EU, Australia, India, Brazil, Mexico, and other countries will also take part in this year’s summit.

So far, the Trump administration has only announced one deal with a close ally, the U.K. With the President’s 90-day pause set to expire in a little over three weeks, on July 9, whether another deal will be announced is still to be seen.

At the time, Trump advisor Peter Navarro said he expected the administration to strike 90 deals over the 90-day period.

In addition to the ongoing discussions with the EU, the Trump administration struck a preliminary deal with China last week.

President Trump’s team said earlier this month that it is close to inking a couple of trade deals; however, no progress has been made on that front yet.

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