Top economies yield to US, drop no-protectionism pledge: Trump Win on Trade
Saturday, March 18, 2017 at 06:59PM BADEN-BADEN, Germany (AP) -- The world's top economic powers dropped a pledge to oppose trade protectionism amid pushback from the Trump administration, which wants trade to more clearly benefit American companies and workers.
Finance ministers from the Group of 20 countries meeting in the southern German town of Baden-Baden issued a statement Saturday that said only that countries "are working to strengthen the contribution of trade" to their economies. By comparison, last year's meeting called on them to resist "all forms" of protectionism, which can include border tariffs and rules that keep out imports to shield domestic companies from competition. The statement from the G20 finance ministers and central bankers helps set the tone for further global economic cooperation.
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