G20 Leaders’ Summit: omitted unequivocal commitment to free trade - UOB

Analysts at UOB Group explained that on the international front, the G20 Leaders’ Summit took place in Germany (7-8 Jul).

Key Quotes:

"The G20 communique omitted unequivocal commitment to free trade but it agreed by November steps to reduce global overcapacity of steel. It kept the promise to fight protectionism, secure fair trade saying “the importance of reciprocal and mutually advantageous trade and investment frameworks”."

"The G20 bowed to Trump’s imbalances concern stating to “strive to ensure a level playing field”. And in a first ever dissent, 19 members affirmed the Paris accord with the US (the only dissenter) said it will help other countries “access and use fossil fuels more cleanly and efficiently”."