US Treasury chief: trade partners like Trump policies

Top finance officials from seven advanced economies have gathered to hear more about U.S. President Donald Trump's economic policies on taxation and trade, as well as to look for ways to promote growth, combat terrorist financing and stop tax avoidance by major corporations.

"We will strive to reduce excessive global imbalances and in a way that supports global growth".

Populist anger at trade, globalization and manufacturing job losses fueled Trump's ascent to the USA presidency, played a role in Britain's decision to exit the European Union, and propelled an antiglobalism candidate into the French presidential runoff vote earlier this month.

The G20's reference to trade said only that they were "working to strengthen the contribution of trade to our economies".

Asked how pro-active the U.S. delegation had been on the first day of the G7, France's Sapin said they had been "quite discreet in their presence", and he appeared to take a swipe at Trump's frequent use of Twitter.

Italian Finance Minister Pier Carlo Padoan and U.S. Treasury Secretary Steven Mnuchin met behind closed doors in the afternoon, while an official ceremony to welcome the other participants was scheduled at the Petruzzelli theatre in the evening. "It is unthinkable and it will not happen that we destroy the framework that has given us stability and economic growth".

"Against this backdrop. we remain determined to use all policy tools - monetary, fiscal and structural - to achieve our goal of strong, sustainable, balanced, and inclusive growth".

More news: Conte urges Chelsea to take one more step for the title
More news: German economy gathers momentum in first quarter
More news: British PM May vows energy price cap if re-elected

United States Treasury Secretary Steven Mnuchin, right, is flanked by Japanese Finance Minister Taro Aso, following their bilateral talks, at the G7 of Ministers of finance, in Bari, southern Italy, Friday, May 12, 2017. "We are very happy on how we are proceeding on trade".

"We recognize that cyber incidents represent a growing threat for our economies and that appropriate economy-wide policy responses are needed", the countries' finance ministers and central bankers said in the statement.

European Economic Affairs Commissioner Pierre Moscovici told reporters he hoped USA policy would not abandon multilateralism and free trade.

Even with the apparent thaw in relations, the US still stands apart from the rest of G-7 on trade, climate change and other issues.

Mnuchin apparently does not share such a viewpoint.

The deal, securing better access to the Chinese market for USA beef, natural gas and some financial services, was welcomed by Mnuchin. Mnuchin's practice of "speed-dating" (in his own words) other nations' finance ministers also suggests a rising degree of protectionism, pragmatism, and bilateralism in everything USA-related from this point on, which is a huge leap away from the idealistic global unanimity on every single challenge the world economy is facing. He said they understand that "we don't want to be protectionist, but we reserve our right to be protectionist to the extent we believe trade is not free and fair".

Related News:

  • IS leader in Afghanistan was killed in April raid

    The first, Hafiz Saeed, was killed in a United States airstrike also in Nangarhar province in July previous year . A US military spokesman in Kabul, Navy Capt.
    Puerto Rico announces historic debt restructuring in court

    Puerto Rico announces historic debt restructuring in court

    Another lawsuit filed by Ambac Assurance Corp. accuses the government of illegally retaining $300 million owed to bondholders. The board members and others authorities could not be immediately reached for comment as the lawsuits landed before dawn.

    Michigan Supreme Court Justice nominated for federal position

    Dabney Friedrich, a former member of the US Sentencing Commission, for the US District Court for the District of Columbia. She graduated first in her class from Northwestern University School of Law in Chicago, served in President George W.
  • Mother Nature warms things up for Mother's Day Weekend

    Mother Nature warms things up for Mother's Day Weekend

    Consider gifting your mother a nice umbrella this weekend , because weather forecasts for Mother's Day are looking terrible . We'll continue fine-tuning and tweaking the 7-day forecast as newer computer models come in over the next several days.
    Miley Cyrus Wearing White in

    Miley Cyrus Wearing White in "Malibu" Music Video for Liam Hemsworth

    I never would've believed you if three years ago you told me I'd be here writing this song. She has been included on the Time 100 list of most influential people in 2008 and 2014.

    Atletico starlet Theo Hernandez completes Real Madrid medical

    And he's helped them to within a game of silverware, when they face Barcelona on May 27. Foot Mercato quoted the agent saying: "The boy will decide where he wants to go".
  • G-7 nations seek ways to make growth help more people

    Trade issues are likely to be taken up at a G-7 leaders' summit on May 26 to 27 in Taormina, Sicily, that Trump will attend. He said the administration was focused on growth, "and growth in the United States is good for the world economy".
    Bottas: Mercedes 'didn't expect' Ferrari resurgence

    Bottas: Mercedes 'didn't expect' Ferrari resurgence

    Red Bull hoped that their upgrade for this race would bring them closer to Mercedes and Ferrari and that, too, appears to be the case.

    "Blade Runner 2049" teaser features battered Ryan Gosling

    Original helmer Ridley Scott is an executive producer with Tim Gamble, Frank Giustra, Yale Badick, Val Hill and Bill Carraro. Ffrom the first trailer, to the images and posters we've seen with this, it seems like it's going to be a phenomenal watch.
  • Goring hospital staff honoured on International Nurses Day

    Goring hospital staff honoured on International Nurses Day

    One of the minor characters in this delightful tome is an incompetent, poorly trained and negligent nurse named Sarah Gamp. Nurses represent the largest single component of the health care profession with more than 3.3 million registered nurses.
    Manchester United FC focus on Europa League route to Champions League

    Manchester United FC focus on Europa League route to Champions League

    After the loss to Arsenal, it is nearly impossible for United to creep into the top four by the end of the campaign. Both teams are going to play tight football since the game is so close and United have a habit of parking the bus.
    Blackburn suffer drop to League One despite final-day victory

    Blackburn suffer drop to League One despite final-day victory

    Lasse Vibe pulled one back for Brentford in the second half, before Craig Conway's penalty restored Blackburn's two-goal lead. This Nottingham Forest fan commiserates with Blackburn Rovers fans, who have suffered at the hands of their owners.


Most liked

Arizona Diamondbacks catcher Chris Iannetta hospitalized after taking pitch to face
Last May, Arizona's Jean Segura was hit in the face during a game in Pittsburgh, setting up another round of retaliation. But Johnny Barbato, the Pirates pitcher who struck Iannetta, said the throw was unintentional. "I'll stand by that".

Angry woman follows congressman down highway
According to the sheriff's department, Wright was identified after she posted details of the incident on Facebook. The other occupants of the auto included the driver and Kustoff's aide, Marianne Dunavant , Sgt.

State police issue Amber Alert for child of missing Hampton woman
The Virginia State Police and Virginia Missing Children Clearinghouse have issued an Amber Alert for a child abduction. Police in Virginia fear someone has kidnapped a mother and daughter who went missing almost two weeks ago.

Trump administration praises deal expanding trade with China
The ban was imposed in 2003 due to a case of bovine spongiform encephalopathy (BSE), or mad cow disease, in Washington state. The United States Cattlemen's Association applauded the agreement, saying market access to China is crucial for its members.

More Chibok schoolgirls to regain freedom soon: Nigerian minister
A handful of other girls have either escaped or been rescued, but 113 still remained unaccounted for following Saturday's release. The personal assistant to Nigerian President Muhammadu Buhari , Bashir Ahmad, tweeted that "huge numbers" had been released.

Mobile celebrates Mother's Day with Galaxy S8 BOGO deal
Well, a comparison between the Galaxy S8 and the iPhone 7 Plus might just be a good way to show fans which one is superior. Anyhow, if the update is available in your country you only have to update it and enjoy the experience of new features.

Watch NHL Round 2 Game 7 Online, Team News
If the Ottawa Senators are going to get to the Stanley Cup finals, it will be through the front door of the defending champs. The next five overwhelmed Pittsburgh on its home ice to tie the series for the first time since the puck dropped in Game 1.

Things We Learned From WWE SmackDown In The UK (May 9)
Ahead of their highly anticipated arrival, The New Day declares that the rest of SmackDown LIVE's tag teams are booty. The main was then made - a 6-man tag match with Zayn, Styles and Orton facing Corbin, Owens and Mahal.

Microsoft Unveils Newest Windows 10 Update
The Fall Creators Update will be available later this year, we would assume in the Fall but already learned its November 2017. On the productivity aisle, the new Timeline feature is created to let users to pick up tasks across devices and across time.

Harden, Rockets rout Spurs 125-104 to tie series
From James Harden on down, the Rockets emphasized the importance of having a pedal-to-the-medal mentality from here on out. But, who knows? Maybe the Rockets can survive Nene's loss and continue to roll with one of the NBA's most fun offenses.

Hertz tanks 15% after missing big on earnings
The company reported the earnings of $-0.71/Share in the last quarter where the estimated EPS by analysts was $-0.57/share. Finally, Russell Investments Group Ltd. increased its stake in Hertz Global Holdings by 40.4% in the first quarter.

Britain's Business secretary says energy market is inefficient
The Conservative leader vowed to place a cap on standard variable tariffs to remove the "injustice" of soaring energy costs.

Choke Maoists' funds, make them reel, Rajnath tells Naxal-affected state heads
Andhra Pradesh and Madhya Pradesh were represented by ministers and West Bengal and Telangana by their chief secretary and DGP. Topping the agenda is the issue of re-calibrating strategy to make it more effective and to minimise casualties.

Capitals stave off elimination by beating Penguins
Up until that point, however, the game remained in question. "It was just, 'Keep pushing!" "You think I ever feel tight?" he said. Louis Blues put the Nashville Predators in the Western Conference final for the first time in their 18-year franchise history.

Korea says US, S. Korea tried to assassinate its leader
South Korea said Jon, who was arrested by North Korea before he could allegedly blow anything up, defected to the South in 2010. It did not mention Kim Jong-un by name, but he is widely referred to as the supreme leader.