German Finance Minister Wolfgang Schaeuble talks to IMF Managing Director Christine Lagarde during the G20 Finance Ministers and Central Bank Governors Meeting in Baden-Baden, Germany, March 17, 2017. REUTERS/Kai Pfaffenbach
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A G-20 draft communique, which may still change and is to be published only Saturday, also said that monetary policy will keep supporting growth and price stability but cannot alone lead to balanced economic growth.The draft, for now, makes no reference to trade and protectionism issues, breaking with a decade-old tradition of G-20 communiques which have, over the years, used various formulations to endorse free trade and reject protectionism.U.S. Treasury Secretary Steven Mnuchin said Thursday in Berlin that the Trump administration has no desire to get into trade wars, but certain trade relationships need to be re-examined to make them fairer for U.S. workers.German Finance Minister Wolfgang Schaeuble told Reuters the protectionist U.S. stance could force the G-20 to leave out trade from the statement altogether.
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