The United States prevented the G20 Finance Ministers to agree on the protection of free trade

The United States prevented the G20 Finance Ministers to agree on the protection of free trade


Moscow. March 18. The G20 countries meeting in the German Baden-Baden so we were not able to agree on protecting free trade: the promise to resist all forms of protectionism after discussions with representatives of the new US administration was not included in the final communiqué, which broke a long tradition.

Economic views of the new U.S. President Donald trump, who is a supporter of protectionism, as expected, influenced the country’s position in the G20. The main debate during the preparation of the communication was conducted with respect to the wording regarding free trade. Despite the fact that most countries have stated their commitment to the principles of free trade and against protectionism, the outcome was only one common phrase that the countries “are working to strengthen the contribution of trade to the economy.” A promise to fight all forms of protectionism in the communiqué was not included, which, according to participants of negotiations, was a victory for trump, who built his campaign under the slogan “America First!”.

Another important outcome of the meeting was the exclusion from the promises of the G20 to combat global warming. According to participants of the delegations, that decision was taken under pressure from the administration of the Tram, which repeatedly stated that the fight against global warming wins China. During his election campaign he promised to repeal the international climate Treaty concluded in Paris in 2016.

Another question, which, as reported, was to raise the American delegation – compliance with earlier agreements regarding the rejection of the use of artificial devaluation of national currencies as a tool to enhance competitiveness. In the communiqué of the countries of “twenty” have confirmed that will refrain from competitive devaluation.

Russian Finance Minister Anton Siluanov told journalists that the meeting raised the issue of currency wars, but no special discussion on this subject was not. “Just had a few speakers who said that we oppose the use of exchange rates to enhance competitiveness of individual countries. There is nothing new about this before on the “twenties” they said. Can’t say more (attention has been paid to this subject),” – said the Minister.

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