G-20 Ministers Call for Addressing Trade Friction

Economy

Tsukuba, Ibaraki Pref., June 9 (Jiji Press)--Group of 20 ministers for trade and the digital economy stressed Sunday the need to address trade friction in view of the escalating U.S.-China trade tensions.

In a ministerial statement adopted at the end of their two-day meeting in Tsukuba, Ibaraki Prefecture, eastern Japan, the ministers from the G-20 major advanced and developing economies said, "We affirmed the need to handle trade tensions and to foster mutually beneficial trade relations."

The ministers pledged to "work constructively" to undertake reform of the World Trade Organization "with a sense of urgency," including strengthening the functioning of its dispute settlement system.

The statement will be reflected in discussions at the G-20 summit that Japan will chair in the western city of Osaka late this month.

Statements from past G-20 summits and ministerial conferences had clarified the 20 economies' commitment to fight protectionism.

[Copyright The Jiji Press, Ltd.]

Jiji Press