G-20 finance chiefs to discuss fair trade, cryptocurrencies
TOKYO (Kyodo) -- Group of 20 finance ministers and central bankers are expected to exchange views on the rise of protectionist trade policy and regulations on virtual currencies when they gather in Argentina next week.
The two-day meeting from Monday in Buenos Aires comes as fears of a conflict between the United States and its trade partners have rattled financial markets since President Donald Trump announced plans to slap tariffs on steel and aluminum imports in order to protect domestic industries.
G-20 leaders agreed last July that they will "continue to fight protectionism including all unfair trade practices" while recognizing the role of "legitimate trade defense instruments."
The finance chiefs are expected to issue a joint statement after their gathering, focusing on how to secure free trade, according to sources with knowledge of the plan.
Bank of Japan Governor Haruhiko Kuroda, who has been nominated for another five-year term, will attend the meeting, while Finance Minister Taro Aso may skip it as he is under renewed scrutiny after his ministry admitted this week to having doctored documents on a cut-price sale of state land.
The monitoring of cryptocurrencies will likely be high on the agenda amid concerns about money laundering and tax avoidance. France and Germany have said they will jointly propose regulations.
The finance chiefs are also expected to discuss taxation on e-commerce companies operating internationally.
The G-20 groups Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United States and the European Union.