Caixin
Dec 02, 2018 12:18 PM
ECONOMY

G-20 Leaders Back Multilateral Trade, WTO Reform

G20 members at the closing of the group's summit. Argentina became the first Latin American country to host the meeting. Photo: Han Wei/Caixin
G20 members at the closing of the group's summit. Argentina became the first Latin American country to host the meeting. Photo: Han Wei/Caixin

(Buenos Aires) — Leaders of the Group of 20 industrialized countries (G-20) agreed the global trading system needs improvement, including reform of the World Trade Organization, but stayed mute on protectionism following their latest meeting in Argentina.

The statement at the end of their meeting came against the backdrop of an ongoing trade war between the U.S. and China, which saw positive signs as the two countries agreed after the meeting to postpone threatened additional tariffs and try to hammer out their own comprehensive bilateral deal within 90 days.

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