Obama urges calm over Britain leaving EU - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Obama urges calm over Britain leaving EU

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Mexico President Enrique Pena Nieto, left, Canada Prime Minister Justin Trudeau, center, and President Barack Obama pose for a photo at the North American Leaders Summit at the National Gallery of Canada in Ottawa, Wednesday, June 29, 2016. Mexico President Enrique Pena Nieto, left, Canada Prime Minister Justin Trudeau, center, and President Barack Obama pose for a photo at the North American Leaders Summit at the National Gallery of Canada in Ottawa, Wednesday, June 29, 2016.

OTTAWA, Ontario (AP) — President Barack Obama is offering this advice to British Prime Minister David Cameron, German Chancellor Angela Merkel and European leaders after Britain's vote to leave the European Union: Catch your breath, develop an orderly plan that the public can understand and work to get it right.

Obama says the process of breaking from the 28-nation bloc will be difficult. But he says it doesn't "need to be panicky."

Obama says financial markets have settled down since the historic vote nearly a week ago and he credits preparation by central banks, finance ministers and the U.S. Treasury secretary.

But he says there are genuine, longer-term concerns about already weak global growth. He says the trend could worsen, especially if investment stalls in Britain and the European continent.

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4:30 p.m.

President Barack Obama says anti-immigration sentiment has been "exploited by demagogues" before but he's not worried Americans will follow that path.

Speaking at a summit of North America leaders in Ottawa, Obama sought to reassure both Canadians and Mexicans about the direction of the immigration debate in the presidential campaign. Obama didn't name Republican presidential candidate Donald Trump, but he alluded to Trump's rhetoric about barring Muslims from the U.S. and building a wall along the border to Mexico.

Obama says similar rhetoric has been used in the past about Irish, Polish and Italian immigrants. But he says that rhetoric didn't stop immigrants from coming to the U.S. "because America offered possibility."

The president says leaders must take anxiety about immigration seriously and counter it "boldly and clearly." But he says "you shouldn't think that is representative of how the American people think."

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4 p.m.

Canadian Prime Minister Justin Trudeau says there will always be people who want to turn inward, but that working together will bring growth and benefits.

Trudeau says trade leads to innovation as he defended trade liberalization when asked about the rise in protectionist sentiment and pronouncements by U.S. Republican presidential candidate Donald Trump.

Trump this week blamed globalization for the loss of millions of manufacturing jobs and threatened to extricate the U.S. from the North American Free Trade Agreement, in effect since 1994. Trump also pledged to withdraw from a pending trade agreement among 12 Pacific Rim nations, including the U.S. and Canada.

Last week, Britain voted to leave the 28-nation European Union.

Trudeau commented at the conclusion of a summit of North America's leaders' in the Canadian capital.

U.S. President Barack Obama followed by saying withdrawing from trade deals "is the wrong medicine" for those worried about lower wages and the growing wage gap. Obama says cutting off trade will make "all of us poorer."

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3:45 p.m.

President Barack Obama says he'll keep working for a trans-Pacific trade deal that is stuck in the U.S. Congress and opposed by both of the candidates who are vying to succeed him.

Addressing a news conference, Obama says the goal in an integrated global economy is not for countries to shut themselves off from the world. Instead, he says the goal is to work together to raise standards around the world for workers and the environment.

He says that's exactly what the 12-nation Trans-Pacific Partnership agreement does.

Obama says the pact is the right thing to do and "we're going to keep working for it."

The presumptive Republican and Democratic presidential nominees, Donald Trump and Hillary Clinton, both oppose the TPP.

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3:25 p.m.

Canadian Prime Minister Justin Trudeau is poking fun at President Barack Obama's "pending retirement," eliciting a big smile and a thumbs-up from Obama.

Opening a news conference with the leaders of the U.S. and Mexico, Trudeau joked that Obama keeps bringing up the fact that he'll be out of office soon. Obama's term ends in January 2017.

Trudeau made the joke at the end of a summit of North America's leaders' in the Canadian capital.

Obama is also scheduled to meet one-on-one with Trudeau as well as address the Canadian Parliament before he returns to the White House.

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1 p.m.:

President Barack Obama says the character of the U.S. has been shaped by Mexican Americans who have influenced its culture, politics and business.

He says it's useful to highlight issues both countries are working on at a time of heated U.S. campaign trail rhetoric about Mexicans.

Republican presidential candidate Donald Trump has said he'll build a wall along the U.S.-Mexico border to stop illegal immigration and send Mexico the bill. Trump also has called for deporting millions of immigrants living illegally in the U.S.

Obama says such talk ignores the enormous contributions by Mexican Americans to the U.S.

He commented after a one-on-one meeting with Mexican President Enrique Pena Nieto (PAYN'-yuh nee-EH'-toh) on the margins of a summit of North America's leaders in Canada.

Obama says Pena Nieto accepted his invitation to Washington. No date was given.

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10:45 a.m.

The leaders of Canada, the U.S., and Mexico are spelling out how their nations will work together to curb global warming.

Canadian Prime Minister Justin Trudeau, U.S. President Barack Obama and Mexican President Enrique Pena Nieto (PAYN'-yuh nee-EH'-toh) say in a joint statement that they'll strive to use renewable sources of energy to generate 50 percent of North America's electrical power by 2025.

That's a significant leap from last year's 37 percent.

They're pledging to accelerate cross-border transmission projects, strengthen energy efficiency standards, and emphasize more efficient products and cleaner vehicles in government purchases.

They say North America has the "capacity, resources and the moral imperative" to build on that agreement.

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10:15 a.m.

U.S. President Barack Obama has arrived in Ottawa, Ontario, for a summit with the leaders of Canada and Mexico.

Trade, the environment and fallout from Britain's decision to leave the European Union are expected to top Wednesday's talks in the Canadian capital with Canadian Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto (PAYN'-yuh nee-EH'-toh).

The attack on a Turkish airport that killed 41 people the day before the summit is also expected to add urgency to discussions about how North America's neighbors can collectively enhance security.

The leaders will stress cooperation less than a week after Britain's vote to leave the EU highlighted public fears about globalization.

Donald Trump is also tapping into those concerns in his presidential run.

Obama also planned an address to the Canadian Parliament.

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