G-20 finance ministers meet in Argentina, cite growing trade tension

Delegates at the Group of 20 meeting of finance ministers and central bank chiefs on Friday afternoon began the delicate task of addressing growing trade tensions without upsetting US President Donald Trump.
 

Negotiators drafting the summit’s final statement in Buenos Aires worked on language that would reiterate a positive global economic outlook while highlighting risks, including the escalating dispute over trade, according to a person with direct knowledge of the discussions.
 

The text may also recommend better communication to improve trade negotiations, though the exact language hasn’t yet been determined, the person said.

Finance ministers and central bankers in the Argentine capital are trying their best to seek common ground after the US withdrew from the final statement at the Group of Seven summit in Canada last month. Talks are on track to produce a consensus document, the person said, cautioning that last-minute roadblocks can always appear.
 

Trump on Friday accused China and the euro area of manipulating their currencies, complaining that a rising dollar is blunting America’s “competitive edge.” The comments were the latest attack in a US-led trade offensive, after the White House slapped tariffs on global steel and aluminum imports and put up barriers against Chinese goods.

Over the past decade the world’s 20 leading economies have met regularly to address pressing global economic and financial issues.