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US tariffs and China tensions hang over G20 meeting - Reuters

According to reporting from Reuters, the US' recent trade tariffs and threats of further duties aimed at China will cast a pallor over the G20's finance meeting taking place in Europe this week.

Key highlights:

The looming threat of a trade war between the US and China and growing frustration within the Eurozone over Trump's steel and aluminum tariffs are expected to be key topics this week at the G20 meeting, and US Treasury Secretary Steven Mnuchin can expect to spend most of his time at the summit defending Trump's protectionist measures that threaten peaceful trading arrangements between trading partners and delivers a blow to the foundations of the World Trade Organization, an organization that Trump has been critical of in the past. Fears are growing that Trump's anti-China tariffs that seeks $60B in additional duties against Chinese-made goods will spark a full-on trade war with China, which could hamper global trade and suffocate global growth that has been slowly ramping up since the G20 first formed during the 2008 financial crisis.

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Joshua Gibson

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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