G20 financial officials reneged on their pledge to fund the climate change combat following U.S. President Donald Trump’s description of climate change as a ‘hoax’, Reuters reported, describing this step as the biggest clash between the U.S. new administration and the international community. In this meeting, which was described by some as 19 against one, the United States did not make any concessions regarding major issues, eventually breaking previous agreements since the G20 requires a consensus.
US Treasury Secretary Steven Mnuchin stated, following his first G20 meeting, that his country still believes in free trade but is keen on reconsidering specific agreements and re-correcting some matters, adding that the final statement was not suitable from his point of view. While a number of participants expressed their frustration such as French Finance Minister Michel Sapin, others alleviated the disagreement.
German Finance Minister Wolfgang Schaeuble added: “The issue is not that we are not united. There is not doubt that we are against protectionism. But it is not very clear what (protectionism) means to each minister.” On other side, other participants noted that G20 meeting which is scheduled to be held next July in Hamburg could be a good chance to convince the US administration to join them.
