G20 Finance Ministers Back Out Of Anti-Protectionist Deal
Business News, Government Buz, Latest Headlines Saturday, March 18th, 2017
BALTIMORE, MD (AFRICAN EXAMINER) – The G20 Finance Ministers have dropped an anti-protectionist commitment due to opposition from the US.
In spite of the resolution, the world strongest economy Ministers left the two-day meeting without renewing their long-standing pledge to bolster free trade.
It would be recalled that the group last year vowed to “resist all forms of protectionism”.
However, the move has suffered setback since President Donald Trump resumed office, and has since been aggressively pursuing an “America First” policy.
The policies include penalties for companies which manufacture their products abroad.
The G20 communique, which was published at the end of the meeting in Baden-Baden with the agreement of all attending delegates, equally failed to include a vow on climate change.
Presently, President Trump has promised to slash environmental funding.
Still, the policy includes pledges on a determination to fight tax avoidance, clamp down on terrorist financing and strengthen private investment in Africa.
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