G20 finance chiefs: trade row intensified

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Trump called off plans to impose a 5% tax on Mexican exports, and Treasury Secretary Steven Mnuchin, speaking to reporters Saturday in Fukuoka on the sidelines of a meeting of financial leaders of the Group of 20 major economies, urged China to follow suit and return to stalled negotiations.

The statement was a disappointing finale to two days of talks in Fukuoka that also came to grips with the thorny issues of taxing internet giants and, for the first time, the economic challenges posed by aging. It notes that global imbalances have narrowed but remain large and persistent.

Officials said that although growth appears to be stabilising, it "remains low and risks remain tilted to the downside", according to the statement.

Ensuring that governments capture a fair share of profits from the massive growth of businesses like Google and Amazon has grown in importance over the many years the G20 finance chiefs have been debating the reforms aimed at preventing tax evasion and modernizing policies to match a financial landscape transformed by technology.

"If we go down this route, we risk clogging the G20", the first official said.

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Así mismo aseguró que "mientras Maduro y sus secuaces continúan en el poder siguen beneficiándose de sus crímenes contra el país y sus ciudadanos".

Japan's Finance Minister Taro Aso answers a question during a news conference of the G20 finance ministers and central bank governors meeting in Fukuoka, Japan June 9, 2019.

While the trade war has unnerved investors, US economic growth has continued.

The IMF this week warned that, while growth is still expected to improve this year and next, the US-China tariff war could cut 0.5 percent from global GDP output in 2020.

China is gearing up to protect its companies in the aftermath of Washington's efforts to invite its allies to join the US blacklisting of Huawei.

The United States and China have levied tit-for-tat tariffs on each other's goods as U.S. President Donald Trump's administration renegotiates trade relationships to address practices it considers unfair.

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Mnuchin dijo que Estados Unidos está dispuesto a llegar a un acuerdo con China , pero también a mantener los aranceles si es necesario.

On 1 June, China's tit-for-tat tariffs on $60 billion worth of U.S. imports came into effect.

Commenting on an immigration deal between Mexico and the United States, Mnuchin said he believed that Mexico would meet its commitments, but added that Trump "reserves the right" to impose tariffs if the commitments were not met.

The trade dispute between the world's two biggest economies has been escalating for over a year now.

The report of the meeting comes the same day US Treasury Secretary Steven Mnuchin was reported to be meeting with People's Bank of China Governor Yi Gang in what would be the most recent high-level meeting between the countries.

In separate comments this week, Fed Chair Jerome Powell and his No. 2, Richard Clarida, reassured nervous investors they're watching closely for signs that disputes between the USA and its trading partners are denting the outlook for the world's largest economy.

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Border Patrol apprehending more than 132,000 people in May, including a record 84,542 adults and children traveling together. Through June 5, 10,393 mostly Central Americans have been sent back to Mexico since the program started in January.

The U.S. side has been preparing to expand retaliatory tariff hikes of 25% on another $300 billion of Chinese products, and Mnuchin indicated it was prepared to take that step if negotiations with Beijing fail.

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