G20 Finance Chiefs Warn About Protectionism

Finance chiefs from the Group of 20 advanced and emerging economies expressed caution about risks posed by protectionist policies on their first day of talks in Buenos Aires on Monday.

The talks came amid concerns about a potential global trade war as the United States prepares to impose steep tariffs on steel and aluminum imports later this week.



“Members voiced concern about inward-looking policies,” Japanese Vice Finance Minister Minoru Kihara told reporters.

“A certain direction or details” to fight protectionism are expected to be incorporated in a joint statement to be released after the two-day meeting concludes on Tuesday, Kihara said.

On the global economic outlook, the G-20 finance ministers and central bank governors agreed that the world economy continues to recover.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza