G20 stops short of denouncing protectionism, warns of global slowdown

Leaders of the Group of 20 major economies warned on Saturday of growing risks t...

OSAKA - Leaders of the Group of 20 major economies warned on Saturday of growing risks to the global economy but stopped short of denouncing protectionism, calling instead for a free, fair trade environment after talks some members described as difficult.

“We strive to realise a free, fair, nondiscriminatory, transparent, predictable and stable trade and investment environment, and to keep our markets open,” they said in a second successive summit statement that refrained from urging the need to resist protectionism. In preparing the G20 statement, Japan, the chair of the meetings, has sought common ground between the United States, which opposes language denouncing protectionism, and other nations seeking a stronger warning against trade tension.

The United States and China agreed to restart trade talks, offering some hope that the world’s two largest economies can resolve the bitter dispute.

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