B7 Chair’s Statement on Recent Tariffs and Unilateral Trade Actions

As the Chair of the Business 7 (“B7”), the Canadian Chamber of Commerce is deeply concerned by the recent proliferation of tariffs and other unilateral trade actions impacting G7 economies.

Economic security is increasingly a matter of national security. Preserving our collective economic security against non-market policies and practices, such as industrial overcapacity, may require targeted trade interventions. To that end, we recognize the need for targeted trade measures by the G7 to counter unfair trade practices by non-market economies.

However, to be effective, these trade measures should be applied judiciously and should not undermine the economic security of the G7. The recent U.S. tariffs targeting G7 allies threaten our collective prosperity and will likely trigger retaliatory actions that risk pushing the G7 into an economically destructive protectionist spiral.

Continued escalation will harm the businesses, workers, and communities within each of our countries that depend on the benefits of international commerce and will also weaken the G7 at a time when the shared economic and geopolitical challenges we face call for greater cooperation.

In this moment, the G7 governments should prioritize negotiation and cooperation, rather than unilateral action, to resolve these challenges. In particular, we urge the U.S. to work collaboratively with its G7 partners in seeking alternative pathways to its recent tariff measures targeting G7 countries.

As the voice of the G7 business community, the B7 is committed to free and fair trade, the rules-based international order, and the multilateral trading system with a reformed and effective World Trade Organization at its core. Given the economic opportunities and challenges facing the G7 – including geopolitical risks, the energy transition, and emergence of artificial intelligence – a stable and market-oriented trading environment among allies and like-minded partners will be integral to our collective prosperity and security.

• Candace Laing, President and CEO, Canadian Chamber of Commerce

About the B7 and the B7 Summit

The B7 Summit convenes 300+ senior business leaders, policymakers, government officials and industry experts from G7 nations to discuss global economic challenges and advance policy solutions that drive economic growth and stability.

The Business 7 (B7) is the most significant and recognized of the G7 Engagement Groups, representing the interests of the business community across G7 nations. It plays a critical role in developing actionable policy proposals for G7 leaders, ensuring business perspectives drive economic policymaking.

This year, the Canadian Chamber of Commerce will lead the B7 presidency, aligning with Canada’s G7 presidency, to shape discussions on economic security, resilience and innovation.

About the Canadian Chamber of Commerce — The Future of Business Success 

The Canadian Chamber of Commerce is Canada’s largest and most activated business network — representing over 400 chambers of commerce and boards of trade and more than 200,000 business of all sizes, from all sectors of the economy and from every part of the country — working to create the conditions for our collective success. The Canadian Chamber of Commerce is the undisputed champion and catalyst for the future of business success. From working with government on economy-friendly policy to providing services that inform commerce and enable trade, we give each of our members more of what they need to succeed: insight into markets, competitors and trends, influence over the decisions and policies that drive business success, and impact on business and economic performance.   

Media Contact

Shane Mackenzie
Vice President, Media and Stakeholder Communications
613.302.7683
smackenzie@chamber.ca