MOSCOW (Sputnik) — China, Japan and South Korea agreed to defend free trade and fight protectionism after the commitment was dropped from a declaration of G20 finance ministers, Japanese media said Friday.
Finance ministers and central bankers of the three nations made the pledge to "resist all forms of protectionism" after the annual Asian Development Bank meeting, the Nikkei journal reported.
Speaking in Yokohama, financial leaders said, "We agree that trade is one of the most important engines of economic growth and development, and contributes to improving productivity and creating jobs."
Finance chiefs of the G20 industrial economies removed their traditional vow to fight all forms of protectionism from their communique at the US request in March. The United States has been threatening its trade partners with increased tariffs for what it sees as unfair export practices.
