March 20, 2018 / 6:48 PM / a month ago

IMF's Lagarde urges G20 to avoid 'exceptional' trade measures

BUENOS AIRES (Reuters) - International Monetary Fund Managing Director Christine Lagarde said on Tuesday she urged G20 finance leaders “to avoid resorting to exceptional measures” to resolve trade disputes, in a veiled reference to U.S. tariff actions.

U.S. Treasury Secretary Steven Mnuchin, Christine Lagarde, Managing Director of the International Monetary Fund (IMF), and France's Finance Minister Bruno Le Maire talk as they gather for the official photo at the G20 Meeting of Finance Ministers in Buenos Aires, Argentina, March 19, 2018. REUTERS/Marcos Brindicci

In a statement issued at the end of a G20 meeting fraught with worries about U.S. President Donald Trump’s steel and aluminium tariffs and potential trade sanctions on China, Lagarde said she emphasized that it was an opportune time for countries to implement economic reforms “to make growth more solid, sustainable, balanced and inclusive.”

“I joined others in reiterating that we should avoid the temptation of inward-looking policies and, rather, work together to reduce trade barriers and resolve trade disagreements without resorting to exceptional measures,” Lagarde added.

Reporting by David Lawder; Editing by Andrea Ricci

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