close
close

Apre-salomemanzo

Breaking: Beyond Headlines!

    • Justin Trudeau: “No American administration is automatically easy for Canada” | ECONOMY
    aecifo

    Justin Trudeau: “No American administration is automatically easy for Canada” | ECONOMY

    Umito Posted on

    At the 2024 APEC CEO Summit, Canadian Prime Minister Justin Trudeau emphasized that while trade boosts economic growth, it does not automatically ensure that everyone benefits. He highlighted the importance of incorporating safeguards into free trade agreements (FTAs) to protect the environment, women’s rights, labor rights and the rights of indigenous peoples. Trudeau spoke on a panel alongside Mary Ng, Canada’s Minister of Export Promotion, International Trade and Economic Development.

    Trudeau argued that the economic rationale for inclusive trade lies in ensuring that everyone feels the benefits, by fostering win-win relationships in trade negotiations.

    “The moment people feel that trade has not benefited them at all, a win-lose framework emerges. What we must ensure is a win-win situation, not only for the two countries involved, but also for the multiple nations participating in major trade agreements. » » said Trudeau.

    He also announced the conclusion of the latest FTA between Canada and Indonesia, highlighting it as a signal of progress amid global protectionism and uncertainty.

    “The country is taking a decision that shows that, even in times of protectionism and insecurity, there are opportunities to reach strong and effective agreements,” » he declared.

    Minister Mary Ng highlighted the need for trade to foster the growth of small and micro businesses.

    “In Canada, adding more women to the economy would bring $150 billion, and globally, $12 trillion. Trade works when everyone benefits: workers and everyone represented along the value chain. she explained.

    On US trade policies and NAFTA

    When asked what impact Donald Trump’s presidency could have on trade deals, Trudeau reflected on the challenges of renegotiating NAFTA in 2016, a historic agreement between the United States, Mexico and Canada.

    “At that time, there was a commitment to break one of the key pillars of NAFTA, and this had profound consequences for Canada and the North American economy. » he noted.

    In response, Canada has sought ways to modernize and adjust its trade relations.

    “The middle classes of Canada and the United States have been building together for decades and generations with immense success. It wasn’t easy then, and nothing will be easy this time. No American administration is ever automatically easy for Canada. They always focus strongly on their own interests. » underlined Trudeau.

    Cierre Apec CEREMONIA DE ENTREGA
    Cierre Apec CEREMONIA DE ENTREGA

    Harnessing artificial intelligence (AI) for global growth

    Trudeau also addressed Canada’s efforts to balance AI innovation with ethical use, ensuring it empowers people and businesses of all sizes.

    “It’s not just about big companies investing huge amounts of money. The question is how to bring AI to small businesses and reassure people that AI can create better opportunities. We must ensure a framework in the democratic world aligned with shared values ​​for this to be effective,” » he declared.

    Trudeau compared AI’s transformative potential to that of electricity more than 100 years ago, emphasizing that it will impact every industry and every job. The challenge is to manage these disruptions to minimize their impact on most people.

    However, he stressed that energy constitutes a major constraint for AI.

    “The energy consumption required for AI is not yet fully understood. Canada produces 80% clean energy, attracting global companies for its workforce and resources. But how can we develop the necessary clean energy? This is a crucial question,” Trudeau explained.

    Clean energy and nuclear energy

    Mary Ng added that regions with rapid economic growth and young populations, such as parts of Asia-Pacific, will need significant AI infrastructure for manufacturing, household and climate change solutions.

    “Canada is a leader in clean nuclear energy, and we know that if we are to meet our carbon emissions reduction goals, nuclear energy must be part of the mix. Many APEC economies will play a role in this transition. We are excited to build nuclear power plants in Canada and export clean energy. she said.

    Ng highlighted Canada’s expertise in the regulatory, construction and maintenance aspects of nuclear energy, ensuring a reliable supply chain.

    Trudeau further clarified that Canada’s nuclear reactors have been built for decades without military implications because their facilities cannot refine materials for nuclear bomb programs.

    “These types of infrastructure require government investment and a long-term vision. The plans we must implement as a government are not only for the next term but also for the next generation. he concluded.

    Umito
    View all posts

    You Might Also Like