Group of 20 finance leaders agreed to describe global trade and geopolitical ten...
FUKUOKA, Japan - Group of 20 finance leaders agreed to describe global trade and geopolitical tensions as “intensified” but failed to express the desire to resolve them, three G20 sources said as a second day of meetings got underway on Sunday.
The Buenos Aires meeting launched a five-month trade truce between the United States and China to allow for negotiations to end their deepening trade war. But those talks hit an impasse last month, prompting both sides to impose higher tariffs on each other’s goods as the conflict nears the end of its first year.
But the final language deleted a clause to “recognize the pressing need to resolve trade tensions” from a previous draft being debated on Saturday. The bickering over trade language has dashed hopes of Japan, which chairs this year’s G20 meetings, to keep trade issues low on the list of agendas at the finance leaders’ meeting.
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