No, it doesn't. First of all, you have to account for deforestation which is already happening in unprecedented pace. So while you'll go around planning trees, in some other part of the world people are chopping them down to provide more land for agriculture or to support the demand for wood. So the overall net effect might be zero.

Aside from that, the fact is that you need a shit ton of trees to negate climate change. Planting 1.7 billion acres of trees would remove only 8% of yearly carbon emissions. Where will we find the land to plant all those trees? We simple don't have the real estate.