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Argentine Economy Minister Nicolas Dujovne (L) and IMF Director Christine Lagarde at a press conference at the G20 Summit in Buenos Aires on July 21, 2018 in Argentina / AFP
The Trade War between great powers persists and the G20 reaffirmed Sunday in Buenos Aires his fear that it affects global growth and called for dialogue, while the United States remain inflexible about their surcharges or threats of sanctions.
20 of the world's most industrialized nations estimated on Sunday that global growth was "robust" but threatened "in the short and medium term (…) by increasing trade and geopolitical tensions."
US Treasury Secretary Steve Mnuchin, July 22, 2018 at the G20 Summit in Buenos Aires, Argentina / AFP
Final communiqué of the G20 Finance, meeting Saturday and Sunday in Buenos Aires, also highlights "the need to strengthen dialogue and actions to limit risks and build confidence."
After imposing customs taxes on the steel and aluminum aimed primarily at China, who set fire to the powder, the United States threaten to overtax European car imports, to punish countries that trade with Iran, while promising to drastically limit their purchases of Chinese goods.
In Buenos Aires, US Treasury Secretary Steven Mnuchin ratified this controversial policy and baderted that there was no protectionist stance from his country. [196] 59004] European Commission President Jean-Claude Juncker to go to Washington Wednesday with Trade Commissioner Cecilia Malmstrom for talks, hoping for a European exemption
– Europe, a battered ally –
The French Minister of Economy and Trade of Finance, Bruno Le Maire (d) and US Treasury Secretary Steve Mnuchin, July 21, 2018 at the G20 Summit in Buenos Aires, Argentina / AFP
European Commissioner for Economic Affairs Pierre Moscovici stressed on Sunday that the European countries "wanted to occupy an ally status, not an enemy but an ally", purposely resuming the word used by President Donald Trump, who on Friday called the Europeans "enemies" in criticism as regards their monetary policy and after having threatened them to overtax European products
"The European Union is certainly not responsible for the main trade imbalances. Targeting us is certainly inappropriate, "said the EU commissioner, as a journalist asked him whether Europe was the victim of collateral damage in the trade war between the United States and China.
" We are trying to build bridges "(19659004) In the face to face with Washington, France poses as a leader of a united Europe on the commercial question and shows firmness in front of" the brutality and the law of the jungle "that Washington imposes, said the French Minister of Economy and Finance, Bruno Le Maire.
" We refuse to negotiate with a gun on the temple. It is in the United States to take a step to start a de-escalation, and arrange all that, "he said.
According to a European source who requested anonymity, Steven Mnuchin gave in Buenos Aires "the impression that the Americans are looking for a way out of the trade war" seeing that the situation can not last.
The IMF director, Christine Lagarde, estimated that the trade war that has been raging for a few months could reduce global growth of "0.5 point" a year At the end of the G20, she called for "the resolution of trade disputes through international cooperation."
– Rider alone –
Demonstrators hold 'IMF out' placards at G20, July 21, 2018 in Buenos Aires, Argentina / AFP
Representative of the world's leading power, St even Mnuchin monopolized the attention. He called on China and the European Union to make concessions to achieve a more balanced trade relationship, following the startling statements by Donald Trump, who called Beijing, Brussels and Moscow "commercial enemies."
China, the United States has a trade deficit of 376 billion USD in 2017 and intends to reduce it. The Trump administration has threatened to impose punitive taxes on all Chinese imports, which amounted to $ 500 billion in 2017.
In the closing press conference of the G20, Mr. Mnuchin stressed wanting "a trade more balanced "and demanded to have" the same access for US companies in China, than that enjoyed by Chinese firms in the United States. "
Beijing accuses Washington of wanting to trigger" the worst trade war in economic history "and reacted by imposing new taxes on American products.
The parties have camped on their positions in Buenos Aires. In the face of America First (America's) posture in Washington, most other countries are becoming apostles of multilateralism.
Final communiqué also reports progress in trade tax work and leadership of crypto badets.
The summit of G20 heads of state will be held in Buenos Aires in late November and Donald Trump will go there, badured the Secretary of the Treasury.
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