The United States offers free trade – France holds against

The advisor Federal Ueli Maurer attended the meeting of G20 finance ministers In Buenos Aires, the focus was on digitization. Especially in the financial sector, it was important to create the necessary framework conditions for innovation.

Maurer highlighted Switzerland's position on cryptocurrencies. In addition, Switzerland has joined the call for the opening of markets for goods and services, as the Federal Department of Finance (EFD) announced on Sunday.

In the field of cryptocurrencies, Switzerland recognizes this technology for networked computers), to which belongs Blockchain technology, also has great potential in financial services. In his speech to the finance ministers, Federal Councilor Maurer also pointed out that technologically neutral approaches are important in the regulation of financial technologies in general and DLT in particular

The legislation on the fight against money laundering. money and the financing of terrorism Crypto-currencies apply, which is the case in Switzerland.

Switzerland also wants to apply the principle of increasing taxes when value creation is carried out for digital services. Only a uniform international approach creates reliability for companies and avoids double taxation.

At the invitation of Argentina, Switzerland participated for the third consecutive time in the "Finance Track" of the G20 and since 2008 for the fourth time The next meeting of the finance ministers of the G20 will take held in the margins of the annual meeting of Bretton Woods in Bali in October

The United States proposes free trade to the G20 – France against

In the international trade dispute, the United States, At the meeting of G20 finance ministers in Buenos Aires this weekend, Treasury Secretary Steven Mnuchin once again suggested removing trade barriers within the group of seven traditional industrialized nations (G7)

If Europe believes in free trade, we are ready to sign a free trade agreement. There are three conditions, however: the elimination of tariffs, trade barriers and subsidies.

France opposes it. President Donald Trump retracts tariffs on steel and aluminum as well as his threat of tariffs on cars. "We refuse to negotiate with a gun on the chest," said Finance Minister Bruno Le Maire.

EU Council member G20 Hubert Fuchs proposed a more modest sound. The lifting of rights on steel and aluminum is not a prerequisite for trade negotiations. He praised the initiative of Mnukhin. "Even the US Treasury Secretary is in favor of fair and free trade.The problem is that the United States understands fair and free trade."

IMF warns of escalation

Meanwhile, the International Monetary Fund (IMF) warned major industrial and emerging economies of the G20 of escalating Trump caused a trade dispute.In the worst case, global economic growth could be lower by half a percentage point, said Christine Lagarde, managing director of the IMF.

The G20 concludes in a draft final declaration that the trade and d & Other political crises have increased the risks to global economic growth, so they called for more dialogue, and countries should arm themselves against reforms through reforms.

Ministers have also stressed the validity of the results of the G20 Summit of Heads of State and Government a year ago in Hamburg. Trade stimulates global economic growth and, therefore, multilateral agreements are important. This goes beyond the statement of the previous March meeting, when we could only agree that it was necessary to continue the dialogue.

EU Representative Wednesday in Washington

The President of the European Commission enthuses Jean-Claude Juncker and Trade Commissioner Cecilia Malmström were waiting Wednesday in Washington. They want to talk to Trump about the trade conflict. Trump sparked the dispute with his European counterparts by imposing import duties of 25 percent on steel and 10 percent on aluminum.

The EU responded with similar rates on motorcycles and whiskey. Trump was threatening additional charges on cars that would mainly hit German builders.

The trade dispute rages mainly between the United States and China, which is already talking about a trade war. With the renewal of Trump's proposal, Mnuchin apparently also sought to increase pressure on China.

The Washington government imposed $ 34 billion in extra-tariff products from the People's Republic of China. China has adopted countermeasures to the same extent. On Friday, Trump threatened to impose tariffs on Chinese imports worth $ 500 billion. (sda / reu)