The world’s financial leaders of G-20 have rejected protectionism and urged further dialogue on trade.
However, they failed to diffuse the threat of a trade war, days before United States’ metals tariffs take effect and Washington is to announce measures against China.
The 2017 Hamburg declaration, which the financial leaders referred to yesterday, said the G-20 countries will continue to fight protectionism including all unfair trade practices.
Finance ministers and central bankers of the world’s 20 biggest economies, discussed trade disruptions as a risk to growth at a two-day meeting.
The Final G-20 Ministers’ statement said that they are working to strengthen contribution of trade among the economies.
United States’ tariffs of 25 per cent on imported steel and 10 per cent on aluminum will come into effect from Friday.