Finance Minister: escalating protectionism affects economic growth

Speaking during the G20 summit in Buenos Aires, Finance Minister Eduardo Guardia said this Friday (30 November) that protectionist positions will not benefit trade or the growth of the global economy.

During an interview with journalists, the minister stated that the group's overall perception is that nations are concerned about trade tensions worldwide. "This escalation of protectionism removes dynamism from the economy and is not positive for the set of countries. We want more trade and more growth,” he said.

The G20 is made up of the largest economies in the world. In addition to Brazil, the group comprises of South Africa, Germany, Saudi Arabia, Argentina, Australia, Canada, China, South Korea, the United States, France, India, Indonesia, Italy, Japan, Mexico, United Kingdom, Russia, Turkey and the European Union.