g20 leaders find trade compromises but are split on climate
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
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a rift between the world's leading economies

G-20 leaders find trade compromises but are split on climate

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Arab Today, arab today G-20 leaders find trade compromises but are split on climate

G-20 leaders find trade compromises but are split on climate
Washington - Arab Today

Leaders from the Group of 20 countries vowed Saturday to fight protectionism and secure fair trade, finding a broad consensus after President Donald Trump's defiantly unilateral stance exposed a rift between the world's leading economies, Morning Star reported.

In light of the broad political pushback against globalization and the rise in antiestablishment forces in recent years, however, the G-20 stepped back from an unequivocal commitment to free trade for the first time since its inaugural summit in 2008. Instead, it recognized the need for defensive measures in pursuit of balanced trade.

In another unprecedented move, the group broke from unanimity in its final communiqué, splitting off the U.S. position on climate change from that of the other members.

In the summit's concluding statement, the G-20 noted "the importance of reciprocal and mutually advantageous trade and investment frameworks." But in a nod to concerns of Trump and other leaders over trade imbalances, the group also said it would "strive to ensure a level playing field." The phrase seemed to reflect concerns of the U.S. and some European member states over China's expanding footprint in the global economy.

Securing the support of Trump, whose "America First" policies pose a potential clash with the international economic order, was the dominant theme among officials as the gathering drew to a close.

"The negotiations on the climate issue reflected dissent -- everyone against the United States of America," said German Chancellor Angela Merkel, who held the rotating G-20 presidency over the last year. "And that the negotiations on the trade issue were especially tough was also a result of the United States taking certain positions."

Source: MENA

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