G20 Fails to Agree on Anti-Protectionism and Climate Change

  • With the United States of America opposing long standing pledge of G-20 to resist all kinds of protectionism and bolster free trade, finance ministers of leading economies of the world dropped anti-protectionist commitment.

    With President Donald Trump aggressively pursuing America First policy, the US Treasury Secretary Steve Mnuchin reiterated (after the end of two-day meeting) that the US still believes in free trade but it should be balanced.

    The agreement also failed to include pledge on climate change as Trump administration promised to slash environmental funding.

    However, the three important aspects included in the agreement at the end of the meeting in Germany’s Baden-Baden include clamp down on terrorist financing, enhance private investment in Africa, and most importantly fight avoidance of tax.