- US President Donald Trump avoided an escalation of the tariff war with China, and even said he would relax restrictions on US companies selling to telecoms giant Huawei.
- Europe and China hit back against Trump’s attempts to further undermine the Paris climate agreement, and ensure that the US is the only country opting out in the final communiqué.
- The EU paraded its biggest trade deal, struck with South America on Friday night.
DISASTER AVERTED IN OSAKA: Phew, the hurricane missed our little, global village at the G20 this time, but it doesn’t feel like it’ll be too long before the storm clouds gather again. We avoided a worsening of the US -China trade war, and US President Donald Trump failed in an attempt to further undermine the Paris agreement on climate change, after push-back from the EU and China. But these are small victories.
While leaders averted a meltdown, they failed to move forward. On climate change, the G20 stuck to promises made two years ago and failed to advance concrete carbon reduction targets. On WTO reform, leaders failed to agree meaningful proposals to tackle subsidies or save the all-important arbitration body in Geneva that seems set to collapse at the end of the year, with Washington blocking the appointment of judges.
While leaders averted a meltdown, they failed to move forward. On climate change, the G20 stuck to promises made two years ago and failed to advance concrete carbon reduction targets. On WTO reform, leaders failed to agree meaningful proposals to tackle subsidies or save the all-important arbitration body in Geneva that seems set to collapse at the end of the year, with Washington blocking the appointment of judges.
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