G20 agriculture ministers express concern about ‘protectionist’ measures

Published July 29, 2018
G20 Agriculture Ministers are seen at an visit at the 132th annual Argentine Rural Society’s Palermo livestock and agriculture camp exhibition in Buenos Aires on Saturday. -Reuters
G20 Agriculture Ministers are seen at an visit at the 132th annual Argentine Rural Society’s Palermo livestock and agriculture camp exhibition in Buenos Aires on Saturday. -Reuters

BUENOS AIRES: Agriculture ministers from the G20 countries said on Saturday they were concerned about the increasing use of protectionist non-tariff trade measures inconsistent with World Trade Organisation (WTO) rules.

The ministers from countries including the United States and China, in Buenos Aires for the G20 meeting of agriculture ministers, said in a joint statement they had affirmed their commitment not to adopt “unnecessary obstacles” to trade, and affirmed their rights and obligations under WTO agreements.

The meeting came amid rising trade tensions that have rocked agricultural markets. China and other top US trade partners have placed retaliatory tariffs on American farmers after the Trump administration put duties on Chinese goods as well as steel and aluminum from the European Union, Canada and Mexico.

Last week, the Trump administration said it would pay up to $12 billion to help US farmers weather the trade war. President Donald Trump and the chief of the European Commission struck a surprise deal on Wednesday that ended the risk of an immediate trade war between the two powers.

The ministers did not specify which measures they were referring to in the statement.

“Recognising the important role of the WTO, we agree to continue the reform process of agricultural trade rules,” the ministers of the G20, who together make up 60 per cent of the world’s agricultural land and 80 percent of food and agricultural commodities, wrote in the statement.

After the meeting with European Commission President Jean-Claude Juncker, Trump said the European Union would buy “a lot” of US soybeans.

German Agriculture Minister Julia Kloeckner told Reuters that the trade relationship between the United States and the European Union was improving, but there was no guarantee the body would import the quantity of soybeans that Washington expects.

Published in Dawn, July 29th, 2018

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Ties with Tehran
Updated 24 Apr, 2024

Ties with Tehran

Tomorrow, if ties between Washington and Beijing nosedive, and the US asks Pakistan to reconsider CPEC, will we comply?
Working together
24 Apr, 2024

Working together

PAKISTAN’S democracy seems adrift, and no one understands this better than our politicians. The system has gone...
Farmers’ anxiety
24 Apr, 2024

Farmers’ anxiety

WHEAT prices in Punjab have plummeted far below the minimum support price owing to a bumper harvest, reckless...
By-election trends
Updated 23 Apr, 2024

By-election trends

Unless the culture of violence and rigging is rooted out, the credibility of the electoral process in Pakistan will continue to remain under a cloud.
Privatising PIA
23 Apr, 2024

Privatising PIA

FINANCE Minister Muhammad Aurangzeb’s reaffirmation that the process of disinvestment of the loss-making national...
Suffering in captivity
23 Apr, 2024

Suffering in captivity

YET another animal — a lioness — is critically ill at the Karachi Zoo. The feline, emaciated and barely able to...