The United States offers free trade to the G20 – France holds against

In the international trade dispute the USA showed themselves ready to speak to Europe and Japan . At the G20 Finance Ministers' Meeting in 1945, Finance Minister Steven Mnuchin once again proposed to abolish the trade barriers within the group of seven traditional industrialized countries ( G7).

"When Europe believes in Free Trade we are ready to sign a Free Trade Agreement ." There are however three conditions: Abolition of ] Trade Barriers and Help.

France against: Before the EU agrees to negotiate, the US President Donald Trump withdraws duties on steel and aluminum as well as its threat with homework on cars . "We refuse to negotiate with a pistol on the chest," said the Minister of Finance Bruno Le Maire .

The representative of Council of the EU to G20 Hubert Fuchs suggests more moderate sounds. The lifting of rights on steel and aluminum is not a prerequisite for trade negotiations. He praised the initiative of Mnukhin. "Even the Minister of Finance of USA is in favor of a fair and free trade.The problem is that USA understands something else under a fair trade and free. "

Also Federal Councilor Ueli Maurer attended the G20 meeting, accompanied by the Secretary of State for International Financial Affairs, Jörg, among others Gasser.In addition, the President of the National Bank Thomas Jordan was present at Buenos Aires

The IMF warns of escalation

The International Monetary Fund ( IMF ) The leading industrial and emerging economies of the G20 group warned of escalating trade conflict .

According to IMF analysis another customs arms race would disrupt the economy In the worst case scenario, world economic output could be 0.5% or $ 430 billion lower in 2020 than expected, according to IMF .

Given the trade conflict between 1945 and 0000 The United States China and EU also warned the G20 countries of the dangers to the global economy. "Risks in the short and medium term have increased which include susceptibility to financial problems, growing trade and geopolitical tensions, inequality and structurally weak growth, particularly in some developed economies", said Sunday the joint statement of finance ministers and central bankers of the G20. "International trade and investment are important drivers for growth, productivity, innovation and development," the statement said. "We need to intensify dialogue and act to contain risks and increase trust."

Ministers 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, during which 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 expected Wednesday after Washington . They want to talk with Trump about the trade conflict . Trump triggered the conflict with European partners by imposing import duties of 25 percent on steel and ten percent on aluminum . ] responded with similar tariffs on motorcycles and whiskey. Trump was subsequently threatened with other duties on cars that would mainly strike German manufacturers.

The commercial conflict is raging primarily USA and China which already speaks of trade war. With the renewal of Trump's proposal Mnuchin obviously also tried to increase the pressure on China .

The government in Washington promised products of the People's Republic in the volume of 34 billion dollars with additional rights . China adopted countermeasures to the same extent. Friday, Trump threatened to impose customs duties on Chinese imports worth $ 500 billion.

(sda / bsh / mbü)