G-20 Drops Wording on Resisting Protectionism in Draft Document
- Group commits to ‘open and fair’ international trading system
- Finance chiefs to reaffirm previous exchange-rate commitments
German Foreign Minister Sigmar Gabriel leaves after his speech during the G-20 foreign ministers' meeting at the World Conference Center on February 16, 2017 in Bonn, Germany. / AFP / Sascha Schuermann (Photo credit should read SASCHA SCHUERMANN/AFP/Getty Images)
Photographer: SASCHA SCHUERMANN/AFP/Getty ImagesThis article is for subscribers only.
Finance chiefs of the Group of 20 economies plan to drop an explicit pledge to resist protectionism, while still promising open trade, a draft of their statement showed.
“We will maintain an open and fair international trading system,” according to the preliminary communique seen by Bloomberg News and dated March 1. “We will also strive to reduce excessive global imbalances, promote greater inclusiveness and reduce inequality in our pursuit of economic growth.”