BADEN-BADEN (GERMANY): Finance ministers from the world’s biggest economies today dropped an anti-protectionist pledge and a vow on action against climate change, after Washington refused to sign up to the commitment.
After a two-day meeting, ministers from G20 developed and developing nations said they were “working to strengthen the contribution of trade to our economies” but failed to spell out a pledge to reject protectionism in a closing statement.
The conspicuous omission came amid a push by US President Donald Trump to pursue an “America First” policy that includes penalising companies that manufacture abroad by heavily taxing their products.
Since taking office, he has withdrawn the US from a trans-Pacific free trade pact and attacked export giants China and Germany over their massive trade surplus. (AGENCIES)
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