Without mentioning Donald Trump, G-20 stresses need to defuse trade tension
EU finance chief Pierre Moscovici has lashed out at Trump’s protectionist policies, but says cool heads are needed to resolve the dispute
Buenos Aires — Group of 20 (G-20) members pleaded on Sunday for increased dialogue to defuse escalating trade tension that could hit global economic growth hard. Finance ministers and central bankers from 20 leading economies closed a two-day meeting in Buenos Aires warning that "heightened trade and geopolitical tensions" threatened the economic expansion. It comes at a time when US President Donald Trump’s protectionist policies have provoked ire from traditional allies such as the EU, Canada and Mexico, and sparked a series of retaliatory measures. The G-20’s final communique stressed "the need to step up dialogue and actions to mitigate risks and enhance confidence" amid fears of an escalating global trade war. While the statement did not mention the US, which is at the centre of trade disputes with G-20 members China, the EU and others, it demonstrated more concern than in March, when the group avoided the issue altogether. Argentina’s economy minister, Nicolas Dujovne, hinted ...
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