G-7 Echoes Watered-Down Trade Language as Mnuchin Holds Firm
- Communique echos statement from March G-20 in Baden-Baden
- Finance ministers, central bankers met in Bari, Italy
This article is for subscribers only.
Group of Seven finance chiefs signed up to a pared-down pledge on global trade as the presence of Donald Trump’s administration of the world stage continued to challenge prevailing economic doctrine.
The G-7 nations, meeting in Bari, southern Italy, said in a statement that they are “working to strengthen the contribution of trade to our economies” -- a repetition of the language used at the Group-of-20 gathering in March that fell short of an explicit promise to avoid protectionism. While trade was not specifically on the agenda, its presence loomed large as U.S. Treasury Secretary Steven Mnuchin came under pressure to engage on the matter.