The Group of 20 nations have agreed that the current global trading system has flaws and needs reform, in a communique that failed to reference protectionism for the first time. The group also committed to pursue reform of the World Trade Organization, according to a copy obtained by Bloomberg. Leaders will discuss WTO reform at a meeting in June. A senior White House official praised the document, particularly the language calling for WTO reform and changes to the global trading system. The G-7 Summit earlier this year was upended when the U.S. withdrew its support for the joint statement minutes after its formal publication.

Source: National Post December 01, 2018 18:11 UTC