Publications: Notes at the Margin

The G1: Tariffs on Canada and Mexico (December 2, 2024)

 

The new economic order has begun. Call it the “G1.” Think back with fondness to the G7 and G20. Beginning now, those organizations have been replaced by the G1.

 

The G7 was formed after the 1973 oil crisis “to provide a venue for noncommunist powers to address pressing economic concerns” confronted by the major industrialized nations. Its members include the United States, Japan, Canada, Germany, France, Italy, and the United Kingdom. Over the decades, the organization has focused on free, open trade. The larger G20 includes China, Russia, Brazil, and other nations. It was formed after the Asian financial crisis to promote international cooperation.

 

The G1, of course, is the United States of America. Lest anyone misunderstand, President-elect Donald Trump intends to “Make America Great Again.” He will do this by diminishing the power of every other country. Cooperation is not an objective. His focus is dominance.