Steven Mnuchin, US Treasury secretary, has dismissed fears of a brewing trade war between the US and China as policymakers from leading economies wrapped up an annual meeting overshadowed by the US embrace of new tariffs.
In a closing communiqué on Tuesday, finance ministers and central bank governors from the Group of 20 industrialised nations called for “further dialogue and actions” on trade.
But Mr Mnuchin rejected accusations that the Trump administration was engaging in a wave of protectionism by imposing tariffs on steel and aluminium that are set to take effect on Friday. The US is also poised to announce tariffs aimed at China in the coming days.
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