This week, Washington becomes the epicenter of the global economy. Finance ministers, central bankers, and CEOs from the world’s largest economies have converged for the World Bank and IMF Spring Meetings to debate policies for growth, trade, and competitiveness.
These are critical platforms, especially at a time of slowing global growth and strained economic relationships. Yet they also preview a more specialized opportunity for businesses this year: a unique opportunity to step forward and lead.
That opportunity stems from America’s presidency of the G20 and its business counterpart the B20, which comes at a pivotal moment. Not only is it America’s 250th year, but this is a high-stakes time to recenter our economic and commercial ties with the world—to build a foundation for lasting American prosperity.
That’s the U.S. Chamber of Commerce’s charge as we align with the Trump Administration and our global partners to host business leaders from around the world at the B20. We are transforming it into a platform built by and for the business community itself—the only one of its kind. And we invite business leaders gathered in Washington this week to get involved.
While the B20 has always been about promoting policies to attract global investment and spur greater economic growth, we are adding a more prominent focus this year: inking deals and attracting foreign investment to America.
Policymakers have the essential job of creating the framework for growth, but government alone cannot close deals, unlock trillions of dollars in capital, or mobilize private investment at scale. U.S. leadership of the B20—which comes once every 20 years—gives American businesses a rare opportunity to accelerate those deals and align them with our national interests.
Though the U.S. Chamber helped establish the B20 following the 2008 financial crisis, this is the first time we’ll host it. Beyond the traditional major public event where formal policy recommendations will be submitted to government partners by thousands of business delegates in Washington in November, we are driving a year-long engine of commercial diplomacy. This will be an ongoing working forum where global business leaders educate one another on foundational partnerships, forge new relationships, and strengthen the commercial ties that underpin U.S. growth and local prosperity.
This year’s B20 takes its cues from the administration’s G20 “back to basics” agenda, focusing on issues foundational to economic competitiveness—innovation, trade, and energy. And like the administration itself, we aim to attract billions in foreign investment that boosts economic growth in American communities. Our goal: increase growth by a point or more.
Right now, the U.S. economy is growing at about two percent—good, but short of its potential. The difference between 2% and 3% growth transforms lives. One additional point speeds up economic advancement in people’s lives by more than a decade, accelerating wages, living standards, and opportunities for all. This growth is felt in local communities across the country in the form of new jobs, businesses, and tax revenue that funds essential public services. To deliver this growth, we must do business globally.
The G20 represents America’s most critical economic relationships—75% of global trade and 85% of world GDP. Foreign investment in the U.S. creates jobs at home, while American investment abroad opens access to growing markets, talent, and innovation, driving exports which will fuel stronger growth of American companies and communities. By showing up and leading, American business can demonstrate that the United States remains a reliable growth engine for the world—not through handshakes and speeches, but through results.
In America’s 250th year, we have a rare opportunity to do what America does best: lead the world through free enterprise and build partnerships that make everyone more prosperous, starting at home. This week’s gatherings in Washington, D.C. play an important role, but they are just the beginning of what must be a transformative year for business-led growth and prosperity.
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About the author
Suzanne P. Clark
As President and CEO of the U.S. Chamber of Commerce, Suzanne Clark heads strategy, government relations and market innovation to support member companies and businesses.
