G20 Leaders Adopt Joint Declaration...Trump-era 'protectionism' alert

At the summit held in Rio de Janeiro, Brazil on the 18th local time, the leaders of the G20 adopted a joint declaration calling for transparent multilateral trade guarantees and a ceasefire in Gaza.

The leaders said in their joint declaration that they must "ensure an open, inclusive, sustainable and transparent multilateral trade system," reflecting Trump's vigilance against the "protectionism" stance.

He also promised to "work together to effectively tax ultra-high net asset owners while fully respecting tax sovereignty" on the introduction of a global wealth tax, which was actively proposed by Brazilian President Luiz Inacio Lula.

The leaders also expressed "deep concern over the humanitarian catastrophe in Gaza" and called for a ceasefire and said they welcomed all constructive initiatives to support comprehensive, just and lasting peace in the Ukraine war.

Regarding responding to climate change, it promised to "unite" to meet the Paris Climate Agreement's greenhouse gas reduction goals, but it did not immediately come up with a concrete solution to how to secure funds to respond to climate change in developing countries.

Meanwhile, Argentina's President Javier Milay said in a separate statement: "I am not opposed to reaching an agreement, but I do not support some of the issues aimed at combating poverty."