G-20 Drops Anti-Protectionist Pledge as Price of U.S. Assent
by Rainer Buergin, Jeff Black and Josh Wingrove
Finance chiefs of the world’s largest economies set aside a pledge to avoid protectionism and signed up to a fudged statement on trade instead, in response to the Trump administration’s call to rethink the global order for commerce.
Group of 20 nations said in a communique on Saturday that they are “working to strengthen the contribution of trade to our economies.” While the U.S. didn’t get all it wanted — such as a explicit pledge to ensure trade is fair — that’s a much pared-down formulation compared with the group’s statement last year, and omits a promise to “avoid all forms of protectionism.”