Article content

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.

Representatives of each country agreed in a two-day summit in Buenos Aires to a statement that warns of threats to growth from geopolitics and recognizes the benefits of multilateral trade. The group also committed to pursue reform of the World Trade Organization, according to a copy obtained by Bloomberg. The leaders are expected to sign the document later Saturday.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or G-20 nations omit mention of protectionism, push WTO reform Back to video

The multilateral trading system is “falling short of its objectives and there is room for improvement,” the document says, in an apparent nod to the criticism that has come from President Donald Trump as he takes the U.S. on a more protectionist path. Leaders will discuss WTO reform at a meeting in June.

The statement also makes only one mention of climate change, and notes both the U.S. exit from the Paris Agreement and other countries’ ongoing support for the accord aimed at capping emissions blamed for global warming.