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Home Main Forums Latest Breaking News G-20 Drops Anti-Protectionist Pledge as Price of U.S. Assent

  • avaistheone1 (838 posts)
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    G-20 Drops Anti-Protectionist Pledge as Price of U.S. Assent

    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.”

    In two days of meetings in the German town of Baden-Baden, the argument by U.S. Treasury Secretary Steven Mnuchin, in his first appearance at an international forum in the role, reflects claims by President Donald Trump that his nation has had a bad deal from the current global trade setup. That attitude pitched him against most other delegates, who favored a multilateral, rules-based system as embodied in the World Trade Organization.

    “My view is that the Americans were doing what any new administration would do — they were looking at the language through their lens,” said Bill Morneau, Canada’s finance minister, who made a last-ditch push for the compromise. “Their lens is: how can trade benefit the U.S.? Everyone else has the same lens, but every other country has the advantage of being at the previous meeting.”

    https://www.bloomberg.com/news/articles/2017-03-18/g-20-drops-anti-protectionist-pledge-as-trump-stance-goes-global

    The Crone, Pastiche, dreamnightwind and 1 otherdjean111 like this
      I'm not a conspiracy theorist - I'm a conspiracy analyst.   Gore Vidal      

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  • The Crone (2771 posts)
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    1. Watching Anthony Bourdain last night, while in Great Britain,

    And a local “foodie” is describing how the EU is run by bureaucrats, often the very same people that no one in any of the EU countries would elect to office, and how patently unfair and undemocratic the system is, gave me hope. If most of the 99% there feel the way this “foodie” feels, it is easy to see why the Brexit vote occurred.

    Across the world, people are waking up. Last year in the USA, we saw that, what with Bernie being so very popular and he would have remained unstoppable if not for the patently undemocratic superdelegate situation inside the DNC Primary process. I hope that the Trump Admin stays true to his part of the “anti-globalism pledge” to make things better.

    Globalism that is unrestrained is not democratic This is something that both  the Big Shots both here in the USA and in Great Britain found out last year, that  the voters are not going gently into that “good decline” of no longer living in nations having national sovereignity. Who wants to be run by bureaucrats appointed by the One Percent?

    "Let us not seek the Republican answer nor the Democratic answer but the right answer." John F. Kennedy   America is the only country that has real   lemons in its furniture polish, and artificial lemon flavoring  in its lemonade!