A trade ceasefire agreed between the US and Chinese presidents, Donald Trump and Xi Jinping, helped to sustain the defence of multilateralism included in the final G20 declaration in Buenos Aires.
The Group of Twenty most powerful nations were nearing an agreement late on Friday (30 November), in which a reference to a rules-based multilateral trade system was expected to be included. But ambition was lowered in the climate field to overcome the US opposition to the Paris Agreement.
US President Donald Trump cancelled on Thursday (29 November) his scheduled meeting with Russian President Vladimir Putin on the sidelines of the G20 and bragged about the tariffs imposed on China, before a key meeting with Chinese leader Xi Jinping on Saturday.
European leaders will pursue a last-ditch effort to improve the global trade system during the meeting of the Group of 20 most powerful nations in Buenos Aires (Argentina) later this week, as the dispute between US and China risks breaking the multilateral framework.
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