Canada Hosts International Economic Conference

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Starting on October 24, Canada will be hosting an economic conference in Ottawa regarding the future of the World Trade Organization (WTO). Thirteen parties have been invited to the two-dayevent: Australia, Brazil, Chile, the European Union, Japan, Kenya, South Korea, Mexico, New Zealand, Norway, Singapore, and Switzerland.

Notably missing from this list is the largest economy in the world, the United States of America. Jim Carr, Minister of Canadian International Trade Diversification, stated in a Canadian Press interview that “the best way to sequence the discussion is to start with like-minded people, and that’s whom we have invited and they’re coming. Those who believe that a rules-based system is in the interests of the international community will meet to come up with a consensus that we will then move out into nations who might have been more resistant.”

The Trump administration has been critical of the WTO and various international trade agreements. Last April, Trump tweeted “China, which is a great economic power, is considered a Developing Nation within the World Trade Organization. They therefore get tremendous perks and advantages, especially over the U.S. Does anybody think this is fair. We were badly represented. The WTO is unfair to U.S.”

Trump notably began a trade war with China worth hundreds of billions of dollars andhas now renegotiated the North American Free Trade Agreement (NAFTA) as the United States-Mexico-Canada Agreement (USMCA). It appearsMinister Carr was indirectly pointing to America as a “resistant” nation.

The October meeting will have the agenda of restructuring the international dispute settlement system, optimizing WTO monitoring, and discussing new trade rules.

As Trump’s America has shown a path against globalization and has undermined the World Trade Organization, Canada is filling into the leadership role to show the United States that the Americadoesnot holdallthe cards,and the globalist agenda will be propagated without the US. By showing that these agreements can be reached with or without the help of the U.S., Canada is undermining the isolationistprinciples that Trump advocates for, and further advances the globalist agenda.

“The main point is,” Minister Carr states, “we believe the WTO, reformed and refreshed, is the best way to re-establish a rules-based system.” How America will react to Canada’s power-play is still to be seen.

About The Author

Daniil Ivanov

Ivanov (Biochemistry '21, minor in Journalism) is the Editor-in-Chief of The Vector. "I've spent all 4 years of my college career with The Vector. I started as a writer, became a copy editor, was the Managing Editor in my junior year, learned how to do layout, learned some photography, finished a journalism minor, and became the Editor-in-Chief for my senior year. I am also an EMT, have been the Lieutenant and Captain of NJIT's First Aid Squad while in The Vector, and volunteer for the Lincoln Park First Aid Squad. I love the Vector community and have made friends for life! "

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