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Trade war

G-20 fails to talk US out of auto tariffs

Mnuchin calls on nations to drop all levies and subsidies in return

U.S. Secretary of the Treasury Steven Mnuchin, center, kisses International Monetary Fund Managing Director Christine Lagarde and shakes hands with World Bank president Jim Yong Kim at the G20 Meeting of Finance Ministers in Buenos Aires, Argentina on July 21.   © Reuters

BUENOS AIRES, Argentina -- Financial chiefs of the world's largest economies could not persuade the U.S. to drop its punitive import tariffs in talks over the weekend, raising the specter of President Donald Trump ratcheting up the trade war with fresh levies on automobiles.

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