March 20, 2018 / 5:51 PM / in 5 months

G20 financial leaders say need more dialogue on trade as U.S tariffs loom

BUENOS AIRES (Reuters) - The world’s financial leaders reaffirmed on Tuesday their commitment to fight protectionism and said there was need for “further dialogue and actions” on trade, just days before U.S. steel and aluminum tariffs are to enter into force.

Finance ministers and central bankers of the world’s 20 biggest economies, the G20, have been discussing the risk to global economic growth posed by a potential trade war caused by the U.S. tariffs and looming trade sanctions on China.

“International trade and investment are important engines of growth, productivity, innovation, job creation and development,” the G20 financial leaders said in the final communique from the two-day meeting.

“We reaffirm the conclusions of our Leaders on trade at the Hamburg Summit and recognize the need for further dialogue and actions. We are working to strengthen contribution of trade to our economies.”

Reporting By Jan Strupczewski

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