Ottawa, November 12: Senior diplomats from G7 nations convened in Canada this week to tackle rising global trade frictions, particularly concerns over potential tariffs from the incoming Trump administration. The summit comes amid growing apprehension over trade policy shifts and their impact on global markets.
Officials indicated that the discussions focused on strategies to mitigate economic disruption, maintain open markets, and coordinate collective responses to any unilateral trade measures. While the U.S. is expected to introduce protective tariffs, European and Asian G7 members emphasized the importance of multilateral dialogue and trade stability.
Analysts note that the meeting reflects mounting anxiety in international economic circles, as businesses and investors await clarity on potential policy changes in the U.S., a cornerstone of the global trade system.
Diplomats also explored long-term trade frameworks, supply chain resilience, and collaboration in areas such as technology, energy, and digital commerce, seeking to cushion the impact of sudden policy shifts on their economies.
The Canadian host government highlighted that the G7 gathering aims to reaffirm commitments to free trade, economic cooperation, and conflict avoidance, while preparing contingency plans for emerging challenges posed by the upcoming U.S. administration.
Observers say that the outcome of these talks could set the tone for global trade dynamics in the months ahead, especially as markets brace for policy announcements from President-elect Trump’s team.
