May 19, 2020

What does Trumps warning to General Motors mean for Canada?

General Motors
Twitter
Ford Motor Co
Donald Trump
yann jay
2 min
What does Trumps warning to General Motors mean for Canada?

President-elect Donald Trump has recently warned through Twitter that he will impose a "big border tax" on American multinational corporation, General Motors. Trump said this after finding out that GM makes some of its Chevrolet Cruze compact cars in Mexico.

The President-elect told the automaker to make the cars in the US "or pay big border tax!" He did not say any more on the matter however, has previously stated that he will hit big companies that choose to move operations from the US to other countries by imposing a 35 percent tax on the companies exports from the states. GM has defended itself saying that it is part of its strategy to serve global customers.

This news comes after Trump discredited the North American Free Trade Agreement between the US, Mexico and Canada.

The tweet (which was sent from Trumps @realDonaldTrump account on January 3) has so far received over 9,000 replies, more than 18,000 retweets and likes in excess of 66,000.

General Motors stated that around 4,500 hatchback varieties of the car were assembled in Mexico but it sold roughly 190,000 Chevrolet Cruze cars in the states last year with around 185,500 sold in Ohio alone.

Glenn Johnson (the President of the Auto Workers union at the factory) said that the production of the Cruze cars adds up to no more than a day of output at the Lordstown plant.

Trump is due to take place in office as US President on January 20. This is his latest tweet aimed at an American company over jobs, imports and costs.

Shortly after Trump sent out the GM tweet, the automakers rival (Ford Motor Co) released that the company was going to be cancelling its proposed $1.6 billion-dollar plan to build a factory in Mexico and would, instead, invest $700 million dollars into its Michigan factory. Ford announced that they wanted to move the production of the Ford Focus small car to the new factory in Mexico last Spring. The company will still move the production of the small Ford Focus car into Mexico but it will go to a present plant in Hermosillo that currently makes midsize cars.

Ford’s Executive Chairman (Bill Ford Jr.) said that he personally notified Trump with the decision to stop the companies Mexico plans after the President-elects GM tweet earlier that morning.

Ford’s CEO Mark Fields said that Ford would’ve made the same decision regardless of whether Trump became President or not.

Share article

Jun 10, 2021

G7 Summit guide: What it is and what leaders hope to achieve

G7
G7Summit
Sustainability
EU
3 min
Business Chief delves into what the G7 is and represents and what its 2021 summit hopes to achieve

Unless you’ve had your head buried in the sand, you’ll have seen the term ‘G7’ plastered all over the Internet this week. We’re going to give you the skinny on exactly what the G7 is and what its purpose on this planet is ─ and whether it’s a good or a bad collaboration. 

 

Who are the G7?

The Group of Seven, or ‘G7’, may sound like a collective of pirate lords from a certain Disney smash-hit, but in reality, it’s a group of the world’s seven largest “advanced” economies ─ the powerhouses of the world, if you like. 

The merry band comprises:

  • Canada
  • France
  • Germany
  • Italy
  • Japan
  • The United Kingdom
  • The United States

Historically, Russia was a member of the then-called ‘G8’ but found itself excluded after their ever-so-slightly illegal takeover of Crimea back in 2014.

 

Since 1977, the European Union has also been involved in some capacity with the G7 Summit. The Union is not recognised as an official member, but gradually, as with all Europe-linked affairs, the Union has integrated itself into the conversation and is now included in all political discussions on the annual summit agenda. 

 

When was the ‘G’ formed?

Back in 1975, when the world was reeling from its very first oil shock and the subsequent financial fallout that came with it, the heads of state and government from six of the leading industrial countries had a face-to-face meeting at the Chateau de Rambouillet to discuss the global economy, its trajectory, and what they could do to address the economic turmoil that reared its ugly head throughout the 70s. 

 

Why does the G7 exist?

At this very first summit ─ the ‘G6’ summit ─, the leaders adopted a 15-point communiqué, the Declaration of Rambouillet, and agreed to continuously meet once a year moving forward to address the problems of the day, with a rotating Presidency. One year later, Canada was welcomed into the fold, and the ‘G6’ became seven and has remained so ever since ─ Russia’s inclusion and exclusion not counted. 

 

The group, as previously mentioned, was born in the looming shadow of a financial crisis, but its purpose is more significant than just economics. When leaders from the group meet, they discuss and exchange ideas on a broad range of issues, including injustice around the world, geopolitical matters, security, and sustainability. 

 

It’s worth noting that, while the G7 may be made up of mighty nations, the bloc is an informal one. So, although it is considered an important annual event, declarations made during the summit are not legally binding. That said, they are still very influential and worth taking note of because it indicates the ambitions and outlines the initiatives of these particularly prominent leading nations. 

 

Where is the 2021 G7 summit?

This year, the summit will be held in the United Kingdom deep in the southwest of England, with Prime Minister Boris Johnson hosting his contemporaries in the quaint Cornish resort of Carbis Bay near St Ives in Cornwall. 
 

What will be discussed this year? 

After almost two years of remote communication, this will be the first in-person G7 summit since the novel Coronavirus first took hold of the globe, and Britain wants “leaders to seize the opportunity to build back better from coronavirus, uniting to make the future fairer, greener, and more prosperous.”

 

The three-day summit, running from Friday to Sunday, will see the seven leaders discussing a whole host of shared challenges, ranging from the pandemic and vaccine development and distribution to the ongoing global fight against climate change through the implementation of sustainable norms and values. 

 

According to the UK government, the attendees will also be taking a look at “ensuring that people everywhere can benefit from open trade, technological change, and scientific discovery.” 

 

Share article