G7 Leaders Urged to Dismantle Trade Barriers and Invest in Critical Minerals

Business leaders from the G7 advanced economies called for the removal of trade restrictions and increased investment in critical minerals to strengthen supply chains. The recom-mendations came ahead of the G7 Leaders' Summit, emphasizing resilience and competi-tiveness amidst disruptive trade policies initiated by U.S. tariffs.

In a bold move to bolster economic resilience, business leaders from the Group of Seven (G7) have urged member nations to remove trade restrictions and invest in critical miner-als. This call to action was made clear in a communique released on Friday.

Gathering in Ottawa, G7 countries' businesses and trade organizations compiled recom-mendations for Canada, host of the upcoming Leaders' Summit next month in Kananaskis, Alberta. The recommendations precede crucial meetings of finance ministers and central bank chiefs scheduled for next week.

The communique warns of significant disruptions caused by U.S. import tariffs under President Trump. Despite efforts to negotiate with the U.S., economists predict persistent tariffs, resulting in adverse economic impacts. Candace Laing, CEO of the Canadian Chamber of Commerce, highlighted the need for G7 to strengthen its supply chains and enhance competitiveness in critical technologies, with particular focus on minerals domi-nated by China.

(With inputs from agencies.)