G20 leaders to stop short of denouncing protectionism in communique - Nikkei
In a G20 communique to be issued later on Saturday, the G20 leaders will agree to accelerate World Trade Organization (WTO) reforms but stop short of calling for the need to resist protectionism.
Key Headlines:
A Japanese government official noted: The G20 members broadly agreed on the need to accelerate stalled WTO reforms in Friday’s session on global growth and trade.
“Given the raging U.S.-China trade war, however, delegates will forgo adding a line in the G20 communique calling for the need to resist protectionism”, the Nikkei reported.
Instead, Japan is working with other G20 nations to urge members to promote a “free, fair and non-discriminatory” trade policy, the paper said.
The proposal has been endorsed by several members already, it said without citing sources.
The G20 leaders will release the communique after they wrap up their two-day meeting on Saturday.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
