G20 finance ministers drop anti-protectionist pledge

G20 finance ministers drop anti-protectionist pledge
March 18 19:29 2017

Finance ministers from the world’s biggest economies have dropped an anti-protectionist commitment after opposition from the US, BBC reports

G20 ministers left the two-day meeting without renewing their long-standing pledge to bolster free trade.

Last year, the group of the world’s 20 largest economies vowed to “resist all forms of protectionism”.

But since then, President Donald Trump has taken office, and is aggressively pursuing an “America First” policy.

His policies include penalties for companies which manufacture their products abroad.

The comminque, which was published at the end of the meeting in Baden-Baden, Germany, with the agreement of all attending delegates, also failed to include a vow on climate change.

Mr Trump has already promised to slash environmental funding.

However, it did include pledges on a determination to fight tax avoidance, clamp down on terrorist financing and strengthen private investment in Africa.