Trade war, tariff threats to challenge G20 finance leaders' solidarity

Widening fallout from the US-China trade war and escalating tariff threats will test the resolve of Group of 20 finance leaders to show a united front this week, as investors worry if they can avert a global recession with dwindling policy ammunition.

A senior US Treasury official said trade will be one of the topics of the meeting, both in the context on how it affects the global economy and how to"reduce some of the unfair trade practices that may exist".Tensions over trade could heighten challenges for G20 finance leaders to seek common ground on how to frame the issue in a communique expected to be released after their gathering.

Mr Trump said on Thursday he would meet President Xi Jinping at a G20 leaders' summit late this month and decide afterwards whether to hit Beijing with more tariffs. The International Monetary Fund on Wednesday warned that current and threatened US-China tariffs could cut global economic output by 0.5 per cent in 2020.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trade tensions may dent defensive armor of consumer staples stocksShares of consumer staples companies are commonly seen as a safe harbor among U.S. equities but may be more susceptible to the fallout from ... In the world, you throw stones and often hold your own legs. What is needed between people is not jealousy and hatred. What is needed is tolerance. Tolerance is a virtue, which will make you more respected by others; tolerance is a good medicine that can save a person's soul
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US trade deficit narrows in April; labor market strongThe U.S. trade deficit unexpectedly narrowed in April as imports of goods dropped to a 15-month low, which could support the economy as it slows ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »