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Finance ministers fromworld’s biggest economies have dropped an anti-protectionist commitment afteropposition from the US.
G20 ministers left thetwo-day meeting without renewing their long-standing pledge to bolster freetrade.
Last year, the groupof the world’s 20 largest economies vowed to “resist all forms ofprotectionism”.
But since then,President Donald Trump has taken office, and is aggressively pursuing an“America First” policy.
His policies includepenalties for companies which manufacture their products abroad.
Speaking after themeeting ended, US Treasury Secretary Steve Mnuchin said he would not read toomuch into his country’s desire to change the language behind the comminique, as“what was as in the past” releases was “not relevant”.
Mr. Mnuchin added hehad been “very clear that we do believe in free trade but we believe inbalanced trade”.
The communique, whichwas published at the end of the meeting in Baden-Baden with the agreement ofall attending delegates, also failed to include a vow on climate change.
Mr. Trump has alreadypromised to slash environmental funding.
The exclusion of thetwo issues in the communique was disappointing, French Finance Minister MichelSapin said.
“I regret that ourdiscussions today were unable to reach a satisfying conclusion on twoabsolutely essential priorities that our world and which France would haveliked to see the G20 continue to take firm and concerted action on.”
However, it didinclude pledges on a determination to fight tax avoidance, clamp down onterrorist financing and strengthen private investment in Africa.
