North American leaders defend global trade at summit

Global Business

North American leaders defend global trade at summit 1

With a shared vision of globalization and trade philosophies, U.S. President Barack Obama, Mexican President Enrique Pena Nieto and Canadian Prime Minister Justin Trudeau gathered at this year’s North American Leaders’ Summit in Ottawa.

The three leaders said they want to find a way to push through the 12-nation Trans Pacific Partnership, TPP, and further develop the 22-year-old North American Free Trade Agreement, NAFTA.

CCTV America’s Sean Callebs reported.

North American leaders defend global trade at summit

North American leaders defend global trade at summit

U.S. President Barack Obama and Mexican President Enrique Pena Nieto are hosted by Canada's Prime minister to address regional and global economic and trade issues. CCTV America’s Sean Callebs reported.

While these three leaders are in agreement, there is growing public sentiment favoring trade protectionism and isolationism.

Global markets tumbled when U.K. shocked the world and voted to split from the European Union. And in the United States, presumptive Republican presidential candidate Donald Trump also wants to build a wall between the U.S. and Mexico and do away with NAFTA, saying it is costing the U.S. jobs and money. His Democratic counterpart Hillary Clinton also wants to scrap plans for the TPP.

U.S. President Obama said all three leaders shared the same concern that, in his words, ‘ordinary citizens’ have about globalization – the rich getting richer, and a potential economic breakdown while the 1 percent thrive. But Obama added that withdrawing from trade deals is not the answer.

The three world leaders also want to make their mark on climate change. They adopted an ambitious plan to adopt renewable “clean energy” nation-wide by 2025, which is difficult, they say, but possible.


Diane Francis discusses North America Leaders’ Summit

For more on the summit and its significance, CCTV America’s Rachelle Akuffo spoke to Diane Francis. Francis is an American and Canadian journalist, author and a senior fellow at Atlantic Council.