Tariffs dispute clouds G20 finance meeting

Financial leaders from the Group of 20 have expressed concerns that the trade friction triggered by the United States' protectionist policies could pose downside risks to the global economy.

In the G20 meeting of finance ministers and central bank governors held over the weekend in Buenos Aires, the capital of Argentina, most of the delegates from the group agreed that the tariffs fly in the face of the central tenet of today's developed and emerging economies - that protectionist measures only inhibit trade and growth.

French Finance Minister Bruno Le Maire said a global trade war would leave everyone as "losers" after US President Donald Trump unilaterally imposed high tariffs on imported steel and aluminum products, provoking strong opposition from the US business community and retaliatory measures from US trading partners.