(Luc Cohen & David Lawder – Reuters)
The United States sought to woo Europe and Japan with free trade deals on Saturday to gain leverage in an escalating tariff war with China but its overtures faced stiff resistance from France at a G20 finance ministers meeting dominated by trade tensions.
U.S. Treasury Secretary Steven Mnuchin told reporters at the gathering of the financial leaders of the world’s 20 largest economies in Buenos Aires that he was renewing President Donald Trump’s proposal that G7 allies drop trade barriers between them.
“If Europe believes in free trade, we’re ready to sign a free trade agreement,” Mnuchin said, adding that such a deal would require the elimination of tariffs, non-tariff barriers and subsidies. “It has to be all three issues.” Click here to read more.
- Trade War a Reality, French Finance Minister Warns (BBC News)
- Bruno Le Maire Critique le Diktat Commercial des États-Unis (France24)
- Moscovici Blasts Trump Over ‘Inappropriate’ Trade Sanctions (Euractiv)
- EU Divided on Best Response to U.S. Trade Pressure (Handelsblatt Global)
- G20 Calls for Stepped-Up Trade Dialogue; No Agreement on Path Forward (Reuters)
- Markets Edgy as G20 Warns That Trade Disputes Threaten Global Economy (The Guardian)