Hours after the agreement was struck early on Saturday, the final statement nonetheless left the US isolated on climate change, according to officials from three G-20 countries. At the same time, the statement refers to the use of “trade defense instruments,” leaving the shadow of tariffs hanging over the world. G-20 officials are concerned about a trade war over steel as Trump gears up for a decision on whether to impose punitive tariffs amid ongoing complaints about dumping on global markets. In its communique, the G-20 pledged renewed efforts to combat excess capacity in the steel industry, according to a leaked copy of the text. “We will keep markets open, noting the importance of reciprocal and mutually advantageous trade and investment frameworks,” according to the draft statement.

Source: The Standard July 09, 2017 11:26 UTC