Economics
G-20 Leaders Give Nod to Trump in Watered-Down Trade Language
- Communique after summit says global trading system has flaws
- Statement calls for further changes to world trade body
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Leaders of the world’s largest economies agreed the global system of rules that’s underpinned trade for decades is flawed, in a post-summit statement Saturday that the White House quickly claimed as a win for Donald Trump’s protectionist agenda.
The Group of 20 communique was the culmination of days of round-the-clock talks. Some officials said just having a statement was a good result, given intense wrangling over issues like trade, migration and climate. Still, the watered-down language suggests further tests ahead for advocates of globalization and institutions like the World Trade Organization.