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. The presidents of the G20 central banks pointed out that although the growth of the world economy is still "robust", the "short and medium-term risks" to global activity have increased especially in In this context, they called for "intensifying the dialogue" to "improve confidence", in a context of widespread tariff growth following the Donald Trump government's decision to impose additional taxes. to steel and aluminum imports.
"We recognize the need to intensify dialogue and actions to mitigate risks and build confidence," he said. they declare.
"International trade and investment are important drivers of growth, productivity, innovation, job creation and development", say they "We work to improve the contribution of trade to our economies. "
The text, in a conciliatory tone, does not directly refer to the trade war, and is closer to European declarations seeking to build bridges to avoid climbing, only from the more difficult position presented by USA during the weekend.
Allies, Not Enemies
In a tone on the opposite of what Trump badumed, the European Commissioner for Economic and Financial Affairs, Taxation and Customs, Pierre Moscovici said Sunday that European countries are ready to "build bridges".
"We are ready to build bridges (…) We must act with the United States as allies, not enemies, but allies," he said at a press conference .
The official responded to the comments of the US president who last week called China, the European Union (EU) and Russia "commercial" enemies.
Trump threatened to extend the additional duties on steel and aluminum to all imports from the Asian giant, for a total of $ 500,000 million a year. [19659003] Inflexible
The United States has a much stricter commercial position.
"We want to have a more balanced trade relationship" with China, "and the balanced relationship is that we can sell more goods" to the Asian giant, US Treasury Secretary Steven Mnuchin said on Saturday.
The United States seeks to combat a trade deficit with China that exceeds $ 370,000 million a year.
In the process, the increase in tariffs affected other trading partners such as the EU, Canada and Mexico (members with the United States of America). North American Free Trade Agreement, NAFTA).
"The European Union is certainly not responsible for major trade imbalances, we think that accusing us is inappropriate," replied Moscovici.
The retaliation against US provisions was immediate and widespread and now threatens to reduce global growth.
The Losers Only
The EU insists that the current situation will only leave "losers" on the way.
"It goes without saying that an increase in trade disputes would affect welfare in all countries, including the United States," Moscovici said.
"Protectionism is good for no one, there are no winners, only victims," he concluded.
The Crisis of Multilateralism
The Tension That Has Been Breathed in the Crossing of Statements at the G20 in Buenos Aires is another example of the crisis of multilateral trade negotiations, which are evident in the paralysis of the World Trade Organization (WTO).
While the French Minister of Economy and Finance, Bruno Le Maire, advocated "the reform of trade multilateralism," Moscovici noted that "the multilateral system, of which the G20 is a central piece, is under pressure important "and called to" strengthen it ".
"Unilateral decisions can never be the answer", pointed out a clear allusion to Washington's measures.
In the same vein, the Director General of the International Monetary Fund (IMF) asked, at the end of the meeting in Buenos Aires, "that the commercial conflicts be solved by international cooperation without recourse to exceptional measures ".
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