G-20 Talks Drag as U.S. Runs Into Resistance on Trade Language
- Baden-Baden discussions dominated by debate on trade fairness
- German attempts to compromise on communique thwarted so far
Amb. Kimmitt Says Mnuchin has to reassure allies at g20
This article is for subscribers only.
Group of 20 finance chiefs remained at odds as they met in Germany, with China leading a defense of the existing rules-based system and the U.S. calling for a recognition that trade must be fair.
Chinese Finance Minister Xiao Jie said in a statement on Saturday that the G-20 should be “adamantly against” protectionism. That reflects talks in Baden-Baden that started Friday over a planned communique by the world’s biggest economies, where officials with knowledge of the matter say China has been the most insistent on a commitment to the current system that the World Trade Organization represents.