Financial leaders of the world's top economies are likely steer clear of pr...
FUKUOKA, Japan - Financial leaders of the world’s top economies are likely steer clear of promises to avoid protectionism in their communique on Sunday, amid an escalating trade conflict between the United States and China, officials said on Saturday.
Finance ministers and central bank governors from the world’s 20 biggest economies, the G20, are meeting this weekend in the Japanese city of Fukuoka to discuss the global economy, with trade tensions between the world’s two biggest economies seen as a key risk to global growth. On the insistence of the new administration of U.S. president Donald Trump, G20 financial leaders replaced in 2017 a standard phrase about avoiding all forms of protectionism with a sentence that they would work “to strengthen the contribution of trade to our economies.”
Officials said the U.S.-China trade conflict was spilling over to other areas of discussions at the G20, making the drafting of the final statement increasingly difficult.China warned its companies operating in the United States on Tuesday they could face harassment from U.S. law enforcement agencies, and Beijing also rebuffed U.S. criticism of a Chinese trade white paper as “singing the same old tune”.
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