BADEN-BADEN, Germany Finance chiefs from the Group of 20 nations reaffirmed exchange rate commitments and vows to "refrain from competitive devaluations" at their mid-March meeting in Baden-Baden, Germany. Under pressure from the U.S., however, representatives removed from their joint statement the phrase to "resist all forms of protectionism," which appeared in last year's communique. Also dropped at the behest of U.S. President Donald Trump's administration was a pledge to fund the fight against climate change.
"The historical language was not relevant," U.S. Treasury Secretary Steven Mnuchin told journalists in his first appearance at an international forum after the meeting on March 18.
