A senior Treasury official said Mnuchin's finance counterparts haven't been "shy about asking direct questions" about Trump's plans to reform the US tax code.

"All the six others. said explicitly, and sometimes very directly, to the representatives of the USA administration that it is absolutely necessary to continue with the same spirit of global cooperation", French Finance Minister Michel Sapin told reporters.

Many G-7 countries had been particularly concerned about the US rolling out a border tax that could choke exports to the country.

In theory, corporate tax cuts and deregulation along the lines proposed by Trump could address some of those problems in the world's largest economy.

A senior source from another of the participating countries added: "We are not anticipating being any clearer about what the United States administration is planning in terms of trade".

The questions have centered on when Congress is likely to move forward with an overhaul plan and what it might look like, the senior official said.

The Trump administration is trying to convince countries that its trade policies are created to encourage other countries to drop their barriers to imports and rebalance the global trading system.

Could miss West Ham match
But because we really needed him, we made a plan for him to play as much as possible. West Ham will be without eight first-team players when they host Liverpool.

"We do not want to be protectionist but we reserve our right to be protectionist to the extent that we believe trade is not free and fair", Mnuchin told a news conference at the end of a meeting of finance ministers from the Group of Seven industrial democracies.

BARI, Italy Top finance officials from seven advanced economies have gathered to hear more about U.S. President Donald Trump's economic policies on taxation and trade as well as to look for ways to promote growth, combat terrorist financing and stop tax avoidance by major corporations.

"We must not backpedal on free trade as it has contributed to economic prosperity", Aso said. The US government sees domestic growth objectives in each as crucial for achieving significant improvements in global economy, but the rest of the G7 seems to think otherwise, seeing global trade as key source of growth. The Sessions memo marks the first significant criminal justice effort by the Trump administration to bring back the toughest practices of the USA war on drugs, which had fallen out of favour in recent years.

There is broad consensus among economists, for example, that more than two-thirds of the job losses over the past two decades were a result of automation, with only a third from jobs being moved to countries with cheaper labor and production costs.

The statement also stressed the need for common practices to detect vulnerabilities in the global financial system.

The ministers said in a statement that cyber incidents represent a growing threat to their economies and that tackling them should be a priority. "We tried to convince everyone we organised it to show how important the Italian agenda is", he quipped at the end of two days of discussions in a Norman fortress on Italy┬┤s southern Adriatic coast.


COMMENTS