"G-20 Drops Anti-Protectionist Pledge as Price of U.S. Assent
Finance chiefs tussled over multilateralism and fair tradeTopic may come under closer scrutiny at leaders summit in July
by Rainer Buergin , Jeff Black , and Josh Wingrove
March 18, 2017, 11:06 AM EDT March 18, 2017, 1:20 PM EDT
Finance chiefs of the world’s largest economies set aside a pledge to avoid protectionism and signed up to a fudged statement on trade instead, in response to the Trump administration’s call to rethink the global order for commerce.Group of 20 nations said in a communique on Saturday that they are “working to strengthen the contribution of trade to our economies.” While the U.S. didn’t get all it wanted -- such as a explicit pledge to ensure trade is fair -- that’s a much pared-down formulation compared with the group’s statement last year, and omits a promise to “avoid all forms of protectionism.”
Wouldn't get too happy yet. Yesterday Merkel said a trade agreement between the US and EU was a bilateral agreement. Sounds like the EU and Trump have different definitions of bilateral.