G20 financial leaders see downside risks to global economy from trade disputes
Updated : April 21, 2018 02:21 PM IST
Chinese Vice Finance Minister Zhu Guangyao said at the meeting that current global recovery is facing "substantial challenges from a strong wave of anti-globalization and unilateralism."
The G20 meeting comes after the Trump administration recently announced additional tariffs on imported steel and aluminium and threatened to impose broad tariffs against Chinese imports.
These unilateral protectionist measures have sparked widespread criticism and provoked threats of retaliation from major trading partners, raising the prospect of escalating global trade conflicts that threaten global recovery.
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