G20 agree trade issues threaten globe

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However, as Reuters reported, a text has more or less been finalized, reportedly reading in part: "Most importantly, trade and geopolitical tensions have intensified".

Japanese Finance Minister Taro Aso met with U.S. Treasury Secretary Steven Mnuchin on Sunday, as their countries have been discussing a bilateral trade deal with a focus on whether it could involve a provision to prevent competitive currency devaluation.

Finance ministers and central bank chiefs from the Group of 20 major economies wrapped up a meeting in Japan on Sunday with a pledge to use all the policies they can to protect global growth from disruptions due to trade and other tensions.

In separate comments this week, Fed Chair Jerome Powell and his No. 2, Richard Clarida, reassured nervous investors they're watching closely for signs that disputes between the US and its trading partners are denting the outlook for the world's largest economy.

Following 30 hours of wrangling in what one official described as a "tense" atmosphere, the G20 finance ministers and central bank heads produced a final statement acknowledging that "growth remains low and risks remain tilted to the downside". The PBOC said in a statement that the two finance officials "exchanged views on global economic and financial situation, G20 issues, as well as topics of mutual interest".

"Trump has said he'll decide whether to enact tariffs on another $325 billion in Chinese imports after the G-20 leaders" summit in Osaka at the end of the month, where he's expected to meet with Chinese President Xi Jinping.

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China's Yi said in a Bloomberg interview on Friday that his meeting with Mnuchin would be a "productive talk, as always", though the topic of the trade war would be "uncertain and hard". -China trade conflict was inhibiting global growth. The fact that Mexico yielded to Trump's threats of imposing more tariffs could embolden the president further when it comes to China, according to The New York Times. Mnuchin added Washington is prepared to move forward with a deal, but if China is unwilling to do so, President Trump would be "perfectly happy" to impose more tariffs to "re-balance the relationship". Trump had threatened to impose a 5 percent tariff on all Mexican goods beginning Monday, if Mexico didn't take concrete action to stem the flow of migrants entering the United States.

The statement also contains no admissions that the deepening U.S.

The deletion, which G20 sources told the Reuters news agency came at the insistence of the United States, shows a desire by Washington to avoid encumbrances as it increases tariffs on Chinese goods.

Trump has said he prefers deal-making on a country-to-country basis. A day later, the Chinese government released a white paper, saying that cooperation in trade was the only right choice for Washington and Beijing, while the confrontation could only harm both sides. "We recognize the contribution that the multilateral trading system has made to that end".

Australia, India and Chile all lowered interest rates in the past week.