G7 Message: Move Quickly toward the Certainty of Trade Peace
The message out of the just-concluded G7 meeting in France: Uncertainty is holding us back—all of us. This uncertainty stems from the Trump Administration’s capricious trade wars.
It is bad enough that America is engaging in trade wars in the first place, and the seeming whimsy with which protectionist policies are imposed makes the situation worse. The unpredictability of the President’s actions makes it difficult for any business with international operations, sources, or markets to plan.
What happens between the United States and its trading partners has a significant impact on the world economy, just because of the American economy’s sheer size and because of how integrated the world economy is. Even as the United States is enjoying record employment and many other economic strengths, the rest of the world is not. Many of the world’s nations are either in recession or teetering on the brink of recession. And they could drag the United States economy into a slump.
What we most need right now is for the Trump Administration to quell the uncertainty by 1) articulating what the trade policy is, exactly, and 2) chart a course for swift resolution and return to economic peace.
We urge the President to adopt a strong and cogent free trade policy and to move quickly toward trade peace.