Trade and geopolitical tensions "intensified", increasing risks to improve global growth, the G-20 finance ministers said in a joint statement, Reuters reported. 

“Global growth appears to be stabilising and is generally projected to pick up moderately later this year and into 2020. However, growth remains low and risks remain tilted to the downside. Most importantly, trade and geopolitical tensions have intensified. We will continue to address these risks and stand ready to take further action,” the G20 finance leaders said in a communique issued as the meetings in Fukuoka closed.

However, the final language excluded a proposed clause to “recognise the pressing need to resolve trade tensions”, which was dropped from a previous draft debated on Saturday.

The delation, which, according to G20 sources, was made at the insistence of the US, indicates Washington’s desire to avoid difficulties due to increased duties on Chinese imports. The statement also does not say that the deepening of the trade conflict between the United States and China is detrimental to global growth.

International Monetary Fund (IMF) Managing Director Christine Lagarde emphasised that “the first priority should be to resolve the current trade tensions” while working to modernise international trading rules.