Global finance leaders called on Sunday for stepped-up dialogue to prevent trade and geopolitical tensions from hurting growth, but ended a two-day G20 meeting with little consensus on how to resolve multiple disputes over U.S. tariff actions.
The finance ministers and central bank governors from the world’s 20 largest economies warned that growth, while still strong, was becoming less synchronized and downside risks over the short- and medium-term had increased.
"Risks of worsening of the conjuncture in the short and medium term have increased. They include increasing financial vulnerability, growing tensions in trade and geopolitics, global imbalances, inequalities and weaknesses in the structural base of growth, especially in a number of developed economies," the G20 ministers said in a joint statement.
"We ... recognize the need to step up dialogue and actions to mitigate risks and enhance confidence," Reuters cited the communique as saying
This marked a strengthening of language compared to their previous statement issued in March, in which they simply "recognize the need for further dialogue."