Finance leaders from the Group of 20 major economies on Friday explored ways to protect the global economy from rising trade tensions but were unable to agree on concrete solutions, leaving the issue to be resolved by leaders at summit talks next month.
Central bank governors and finance ministers wrapped up a two-day conference in Bali, Indonesia, as the world stock markets reeled from a sell-off triggered by concerns that interest rate hikes in the United States could drain capital from emerging markets.
Argentine Treasury Minister Nicolas Dujovne, whose country is chairing this year's G20, told a news conference after the meeting that member countries agreed that trade is "an important engine of growth," and that they recognized the need "to resolve tensions which can negatively affect market sentiment and increase financial volatility."