Trump postpones G7 summit but says he'll invite India, Australia, Russia, South Korea

President Trump said Saturday that he plans to invite South Korea, India, Russia and Australia to join the G7, an international consortium of major world economies that hosts an annual meeting to plan out global economic policies and initiatives. 

“I don’t feel that as a G7 it properly represents what’s going on in the world," Trump said of the decision to expand the council. "It’s a very outdated group of countries." He speculated that the expanded group could be called the "G-10 or G-11." 

The original group first met in 1975. 

The president claimed that he'd already broached the topic with the leaders of the four named countries. Regarding the timing of the possible additions, he said: “Maybe I’ll do it after the election. I think a good time would be before the election.”

The president made the announcement aboard Air Force One, on his return trip from Florida to watch the space launch.

He also said he is postponing the annual summit until September. Trump was originally scheduled to host the event in June.