New rifts emerge as Trump administration rejects free trade statement at G-20 meeting
By Damian Paletta March 18 at 12:07 PM
BADEN-BADEN, Germany – The Trump administration on Saturday rejected a statement from other leading economies that warned against the perils of trade protectionism, the latest sign of how the administration’s more combative approach to diplomacy could create rifts with U.S. allies and leave traditional partners in the dark about the direction of U.S. policy.
Treasury Secretary Steven Mnuchin, appearing at a gathering of economic ministers and central bankers from the 20 largest economists, rebuffed multiple entreaties from German officials to include in the meeting’s joint statement language stressing the importance of free trade and that it should be conducted in a “rules based” manner, following existing standards and agreements.
By rejecting language that would have said the U.S. is opposed to protectionism, the White House sent a clear signal that it would not accept existing trade norms and could pursue a more antagonistic approach with trading partners around the world. Such language has been considered ordinary and uncontroversial in recent G-20 meetings.
“I understand what the president’s desire is and his policies and I negotiated them from here, and we couldn’t be happier with the outcome,” Mnuchin said at a press conference Saturday.
Trump made opposition to free trade a cornerstone of his presidential campaign and pulled the U.S. out of a sweeping Asia trade deal shortly after taking office, but has not yet followed up with other concrete steps to revamps the terms of America’s economic relationship with the world. He has threatened tariffs and other measures to correct what he argues is other countries’ unfair advantages in their trade relationships with the U.S., mostly taking aim at China and Mexico.
For many years, the U.S. has been the country rallying other nations to the cause of free trade and common language in the communiques that follow meetings of economic ministers and central banks. Several European officials and one former U.S. official who had attended G-20 meetings in the past said it was the first time the U.S. had blocked such an effort.
more:
http://www.washingtonpost.com/business/economy/new-rifts-emerge-as-trump-rejects-free-trade-statement-at-g20-meeting/2017/03/18/aa69b1a2-0bf3-11e7-a15f-a58d4a988474_story.html?pushid=58cd644d3a93043c00000017&tid=notifi_push_breaking-news&utm_term=.374b24cd32b1
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