The Canadian Chamber of Commerce welcomes the G7 communiqué’s emphasis on business issues and open trade outlined, and it is greatly disappointed by U.S. President Donald Trump’s decision to withhold his support.
The communiqué, which was issued at the conclusion of the G7 Leaders’ Summit, echoed many of the recommendations of the B7 Business Summit in April.
“Today’s communiqué reaffirms that most G7 members are willing to collaborate on measures that will benefit all countries. There is a strong and direct link between economic growth and prosperity for our countries’ populations, which is why we are pleased to see the G7 leaders support business priorities like inclusive growth,” said the Hon. Perrin Beatty, President and CEO of the Canadian Chamber of Commerce. “The recommendations made following our B7 Summit in April were rooted in our firm belief that the growth generated by freer trade provides the best way to fight poverty, create a more prosperous middle class and raise living standards for everyone.”
Canada’s economic growth requires open trade, starting with a renewed NAFTA. While the Canadian Chamber is pleased to see the G7 communiqué’s emphasis on rules-based trade, we now need concrete action to reduce trade barriers, especially between Canada and the U.S. Unfortunately, the American president’s refusal to support the communiqué and his threats of tariffs that would seriously damage North America’s auto sector mean the U.S., once the key proponent of dismantling obstacles to trade, may be becoming the greatest source of global trade barriers.
“We are profoundly disappointed with President Trump’s refusal to work with his G7 colleagues. His actions not only threaten the prosperity of America’s trading partners, but they also work directly against the interests of the American people, who are the primary beneficiaries of a growing global economy. We will continue to work for free and open trade,” said Mr. Beatty.