G20 members agree on reforming WTO but not on climate change

The leaders of the world'slargest economic powers on Saturday backed an overhaul of theglobal body that regulates international trade disputes, butcouldn't reach agreement to support the Paris accord on fighting climate change.

The Group of 20 industrialized nations called for reforms tothe World Trade Organization amid growing globaltrade tensions, in the bloc's final joint statement from a two-day gatheringin Argentina.

But on climate change, the United States once again marked itsdifferences with the rest of theG20by reiterating in the statement its decision to withdraw from the Paris Agreement andits commitment to using all energy sources.

• Read the full statement here

The final communiqu recognized trade as an important engine of global growth, but made only a passing reference to "the current trade issues," after the U.S. delegation won a battle to keep any mention of protectionism out of the statement.

In addition to tariffs on Chinese goods, Trump has imposed tariffs on steel and aluminumimports into the United States this year. Numerous countries have filed litigation at the WTOto contest the levies.

The United States is unhappy with what it says is the WTO'sfailure to hold Beijing to account for not opening up itseconomy as envisioned when China joined the body in 2001.

To force reform at the WTO, the United States has blockednew appointments to the world's top trade court. The EuropeanUnion is also pushing for reform at the WTO.

No climate consensus

G20 delegates said negotiations on the final summit statement proceeded more smoothly than at a meeting of Asian leaders two weeks ago, where disagreements on protectionism and unfair trading practices prevented a consensus.

European officials said a reference to refugees and migration a sensitive issue for Trump's administration was excised to ensure consensus.

Meanwhile, the U.S.once again marked its differences with the rest of the G20 by reiterating in the statement its decision to withdraw from the Paris Agreement and its commitment to using all kinds of energy sources.

The other members of the group reaffirmed their commitment to implement the Paris deal and tackle climate change, taking into account their national circumstances and relative capabilities.

Thaw in China-U.S. relations?

With the United States and China locked in growing disputesover commerce and security that have raised questions about thefuture of their relationship, global financial markets next weekwill take their lead from the outcome of talks between Trump andXi over dinner on Saturday.

The first day of the G20 summit offered glimmers of hope forprogress between Washington and Beijing despite Trump's earlierthreat of new tariffs, which would increase tensions alreadyweighing on the growth of the global economy.

This year's summit has proved to be a major test for theG20, whose leaders first met in 2008 to help rescue the globaleconomy from the worst financial crisis in seven decades.

With a rise in nationalist sentiment in many countries, thegroup, which accounts for two-thirds of the global populationand 85 per cent of the global economy, faces doubts over itsability to deal with trade tensions and other geopoliticaldifferences among its members.

Apart from trade and climate change, Russia's seizure ofUkrainian vessels drew condemnation from other G20 members,while the presence of Crown Prince Mohammed bin Salman at thesummit raised an awkward dilemma for leaders.

Saudi Arabia's de facto ruler, who arrived amid controversyover the murder of Saudi journalist Jamal Khashoggi, has beenignored by other leaders at public events, although he has had aseries of bilateral meetings with them in private.

Canadian Prime Minister Justin Trudeau said in a a post-summit news conference Saturday that, during encounters over the course of the summit, he asked Russian President Vladimir Putin to release the Ukrainian vessels and spoke to Prince Mohammed about "the need for better answers on the killing of Khashoggi."