G-20 Leaders Concerned over U.S.-China Trade Tensions

December 1, 2018

Buenos Aires--A closely watched Group of 20 summit started in Buenos Aires on Friday for a two-day run, with participants voicing concerns over fierce U.S.-China trade friction.

On the first day, some also said that the G-20 advanced and emerging economies should confirm their support for free trade systems.

Among the summiteers are Japanese Prime Minister Shinzo Abe, U.S. President Donald Trump, Chinese President Xi Jinping and French President Emmanuel Macron.

The first-day discussions focused on the world economy, trade and international finances.

Growing tensions over trade are a serious risk to the global economy, Abe said. Protectionism and tit-for-tat trade retaliation will benefit no country, he also said, apparently keeping in mind the U.S.-China row.

Abe called for the G-20 forum's unity, stressing that leaders of the member economies need to promote free and fair economic rules.

Amid the escalating trade tensions between the world's two biggest economies, participants also discussed reforms of the World Trade Organization.

Overhauling the global trade referee is a pressing issue toward strengthening the rules-based multilateral trade system, Abe said, asking the G-20 members to support the WTO reforms.

On Saturday, the leaders will aim to adopt a joint communique to sum up their two-day discussions.

The focus in the potential joint communique is whether and how strongly they can show their commitment to promoting free trade in defiance of protectionism.

Work on a draft of the communique is still under way as the United States is at odds with other members over issues related to climate change, according to sources familiar with the situation. The U.S.-China trade friction is also affecting the work, the sources said.

The United States is believed to be showing a stance of not agreeing to any communique that would harm its national interest, according to the sources.

At the Nov. 17-18 summit of the Asia-Pacific Economic Cooperation forum in the Papua New Guinea capital of Port Moresby, participating leaders were unable to adopt a joint communique on the back of the U.S.-China row.

A statement issued by the APEC summit's chair on Nov. 23 suggested that the leaders' meeting failed to bridge gaps over free trade.

The G-20 members are the Group of Seven major industrial nations--Britain, Canada, France, Germany, Italy, Japan and the United States--and Argentina, Australia, Brazil, China, India, Indonesia, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey and the European Union. Jiji Press