Monday, 3 December 2018

G20 agreement backs 'rules-based' order but bows to Trump on trade reforms

G20 agreement backs 'rules-based' order but bows to Trump on trade reformsWorld leaders have signed off on an agreement which reaffirms a basic commitment by the world’s biggest economies to multilateral trade and a “rules-based international order”, but bows to US demands for urgent reform of the World Trade Organisation (WTO). Agreement on a joint communique was by no means guaranteed at the beginning of the summit, when US negotiators took hardline positions, rejecting any mention of multilateralism, the “rules-based order” or the role of the International Monetary Fund (IMF) as a global safety net.




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