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G20 Summit at Hamburg: Reaching Agreement on Free Trade

Posted by: Time:2017.07.14 02:32

Hamburg hosted the twelfth G20 Summit on the 7th and 8th of July, 2017. More than twenty Heads of State or Government as well as representatives of international organisations met at the Messehallen Convention Centre. US president Trump " US priority" makes negotiation difficult, but with the efforts of others, we get G20 Leaders’ Communique Hamburg Summit. As the professional manufacture of seamless steel pipe, ERW steel pipe, boiler tube, carbon steel pipe, OCTG, welded steel pipe, LASW steel pipe, stainless steel pipe, Bestar will keep eye on it.


At the start of her final press conference Chancellor Angela Merkel said that there had been extremely intensive discussions on trade, but summit participants agreed to fight protectionism and unfair trade practices. The rules-based international trading system, as embodied by the World Trade Organization (WTO), plays a vital role in this. And regretted the announcement of the USA that it would withdraw from the Paris Agreement on climate change.


International market research experts said that member of unanimously able to support the free trade is commendable, after all efforts, the United States return on track on formal. Otherwise economic globalization is not only difficult to enter the upgraded version, and may even go back downgraded version.


The communique pointed that  the G20 demonstrated will keeping market open around the world and continue to resist trade protectionism, including unfair trade practices. The communique also said that the recognition of "legitimate trade defense tools", the expression of the world cast a "tariff" shadow.


Experts think that the United States plans to impose punitive tariffs on imported steel products, not only to China, but also to France, Germany, Japan and South Korea, if they take action, it will disorder the global economy or leads to tread war.

 

EU executive chairman said at the G20 summit that if the US imposes punitive tariffs on steel products imported from Europe, the EU will respond immediately.

 

In response to the problem of overcapacity in global steel, the communique urges to accelerate the process of promoting the Global Forum on Steel Overcapacity at the Hangzhou Summit, calling on members to fulfill their commitment to strengthen information sharing and cooperation by Aug 2017.


In the future, Bestar will continue to pay attention to the world economic dynamics, and continue to improve competitiveness, with more high-quality seamless steel pipe, ERW steel pipe, boiler tube, carbon steel pipe, OCTG, welded steel pipe, LASW steel pipe, stainless steel pipe and other products , to develop international market.


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