The Buzz | G-20 meeting in Argentina eclipsed by potential trade war

Finance ministers and central bankers from the 20 leading industrial and developing countries are meeting in Argentina at a summit that has been eclipsed by growing concerns over the potential of a global trade war following U.S. President Donald Trump’s decision to slap import tariffs on steel and aluminum.

Trump’s tariffs — of 25 percent on imported steel and 10 percent on aluminum imports — enter into force this week.

The issue had not been addressed officially at the two-day summit that began yesterday in Buenos Aires. But some G-20 officials, who spoke on condition of anonymity because they were not authorized to speak publicly, said that Trump’s measures have been a major talking point in private sessions.

Argentina’s Treasury Minister Nicolas Dujovne asked U.S. Treasury Secretary Steven Mnuchin to exempt the South American country from the tariffs. Trump is temporarily exempting Canada and Mexico.

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