Deputy Prime Minister Chrystia Freeland meets with United States Secretary of Treasury Janet Yellen

From: Department of Finance Canada


Yesterday, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, had a virtual bilateral meeting with the United States Secretary of the Treasury, Janet Yellen. The two previously spoke in January, shortly after the Secretary’s historic confirmation.

Both the Deputy Prime Minister and the Secretary noted the close ties and friendship between Canada and the United States.

The Deputy Prime Minister and the Secretary spoke about the impact of the COVID-19 recession and their shared vision for an inclusive economic recovery. They both reaffirmed that the prudent approach remains an expansive fiscal policy that supports people and job creation. They underscored the need for a recovery that addresses the unequal impact the pandemic has had on certain groups, including women and girls. The Deputy Prime Minister and the Secretary noted that supporting women’s participation in the labour force is critical.

In line with discussions of G7 and the G20 Finance Ministers and Central Bank Governors this week, the Deputy Prime Minister and the Secretary reflected on international efforts on climate action. The two discussed ways to collaborate in the fight against climate change as well as Canada’s successful implementation of a price on pollution.

The Deputy Prime Minister reiterated Canada’s concerns over the “Buy America” proposals and highlighted how free trade is beneficial to both economies.

In addition, the two discussed the arbitrary detention of Michael Kovrig and Michael Spavor, and the need for their immediate release.

The Deputy Prime Minister and the Secretary agreed to continue collaboration on these and other shared priorities.

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