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Fact Sheet - President Donald J. Trump Will Promote Worldwide Economic Growth and Prosperity at the G20 Summit

June 27, 2019

"So together, let us resolve to use our power, our resources, and our voices, not just for ourselves, but for our people — to lift their burdens, to raise their hopes, and to empower their dreams. -President Donald J. Trump

GROWING THE WORLD ECONOMY: At the G20 Summit, President Donald J. Trump will encourage others to follow the United States' pro-growth, pro-jobs, and pro-innovation example.

  • America's economic revival under President Trump serves as an example for how other nations can achieve growth.
    • Pro-growth policies, like our tax reform, have added millions of new jobs, brought back our manufacturing sector, and restored confidence in the American economy.
  • The United States prospers when the world economy is growing – ensuring strong and stable markets for American goods and services.
  • Countries should focus on implementing pro-growth policies that will help spur their economies, such as reforming their tax laws, cutting regulations, and fostering currency stability.
  • Additionally, nations can better unlock their full economic potential by investing in training to upskill and reskill workers for high-demand industries.

ACHIEVING FAIR AND RECIPROCAL TRADE: President Trump is committed to promoting fair and reciprocal trade.

  • The President's commitment to promoting free, fair, and reciprocal trade deals is a key component of his pro-jobs, pro-growth strategy.
    • President Trump is working to open new markets for American goods and services, while ensuring any deal is enforceable and creates a level playing field for our workers and companies.
  • The United States is working with allies and partners to confront unfair trade practices, including intellectual property theft, unfair labor practices, and forced technology transfer.
  • President Trump will encourage our allies and partners to lower tariff and non-tariff barriers to free, fair, and reciprocal trade.
  • The United States is urging reforms and modernizations to the World Trade Organization (WTO), while making sure the WTO functions as originally intended.

ENCOURAGING INNOVATION: President Trump is committed to encouraging growth in the digital marketplace and supporting emerging technologies in order to promote future prosperity.

  • Emerging technologies, like artificial intelligence, have the potential to make a positive, meaningful impact on living standards and productivity for the United States and the world.
    • Recognizing the importance of these technologies, President Trump signed an executive order earlier this year on maintaining leadership in artificial intelligence.
  • Overly burdensome regulations can stifle innovation and limit the potential of these transformative technologies to fuel economic growth.
  • To that end, the United States is committed to promoting innovation-friendly policies that support growth in the digital economy and pave the way for technological innovation.
  • The United States urges members of the G20 to work together to advance an open, fair, market-based digital economy, which will benefit all our nations through the free flow of data.

PROMOTING ENERGY DEVELOPMENT: President Trump will use the G20 Summit to advance his "all-of-the-above" approach to energy development.

  • Access to affordable and reliable energy is central to President Trump's agenda for growing the American economy and promoting prosperity across the world.
  • At the G20, we will seek recognition for the role that all sources of energy play in promoting economic growth, energy security, and energy access, while supporting a healthy environment.
  • Under President Trump, the United States has become the world's largest producer of both oil and natural gas, while growing our economy and protecting our environment.
    • The United States energy and environmental record is one of the strongest in the world.
  • The President is also promoting investment in energy technologies – like Liquefied Natural Gas (LNG) – and high-quality infrastructure as key aspects of energy development.
    • The United States now exports LNG to 35 countries across five continents, 16 of which have been added during the Trump Administration.

EMPOWERING WOMEN AROUND THE GLOBE: President Trump understands that empowering women is smart economic and security policy.

  • Empowering women to participate in the world economy is vital to economic prosperity, national security, and global stability.
  • The United States is committed to eliminating legal and cultural barriers that are holding women back from full and free participation in their local economies.
  • Countries should recognize that stability is only realized when women and men alike are able to participate economically and politically at all levels.
  • The Trump Administration is helping to lead this drive through our Women's Global Development and Prosperity (W-GDP) Initiative.
    • President Trump launched this landmark Initiative in February 2019, which seeks to economically empower 50 million women across the developing world by 2025.

SUPPORTING SMART DEVELOPMENT WORLDWIDE: President Trump supports the use of transparent, accountable, and market-based financial development principles.

  • President Trump is committed to spurring the private sector to produce more sustainable economic development around the world.
    • Sustainable, private-sector-led economic development provides a strong alternative to state-directed initiatives that come with many strings attached.
  • The United States remains committed to the Organization for Economic Co-operation and Development's (OECD) process on taxation.
    • The United States condemns the efforts of those that are undermining the OECD process by taking unilateral action to tax digital companies.
  • The President is supporting efforts to combat corruption and increase transparency among our allies and partners.
    • Countries should level the playing field for development by adopting and enforcing strong anti-corruption laws.
  • The United States supports efforts by the G20 to promote a transparent, responsible, and sustainable approach to infrastructure development financing that does not saddle developing countries with crippling debt.

Donald J. Trump, Fact Sheet - President Donald J. Trump Will Promote Worldwide Economic Growth and Prosperity at the G20 Summit Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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