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G20 leaders drop support to free trade and climate change

In an apparent response to pressure from the United States, the G20 financial leaders have rolled back their commitment to free trade and climate change. During the annual meeting of G20 financial leaders, the entire world had great expectations, but there were no announcements made to fight protectionism and climate change. Both these aspects have been suppressed by the Trump administration in the United States and the G20 countries acted as if they had no other option but to follow on the footsteps of the United States. There was just a small reference to strengthening trade during the meeting.

The development is being seen as a major setback for countries such as China, Japan and European countries that have continuously supported the idea of free trade. It is also a sad day for environmentalists, as the fight to control climate change can stifle without the support of G20 countries. It may be recalled that Trump had referred to climate change as a “hoax” and a “waste of money”. Speaking on the development, French finance minister Michel Sapin said, “I regret that our discussions today were not able to reach a satisfactory conclusion on two priorities that are absolutely essential in today’s world.”

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