According to G20 leaders, the World Trade Organization (WTO) will be able to work effectively only after major reforms.
In a statement, G20 representatives noted the need for creating a multilateral trading system and reforming the WTO. However, the statement does not specify what reforms are needed by the organization.
According to experts, the topic of WTO reform and principles of international trade was one of the most relevant at the summit. G20 participants' opinion on these issues differ, but ratification of a document reflecting the general direction was an important step.
According to The Wall Street Journal, the European countries have softened the rhetoric about the need to counter the negative climate change under pressure from the United States. Europe also agreed with the demand of the White House to remove the pledge to fight protectionism from the document. The communique now also contains an important phrase about the role of international multilateral trading institutions.
In the final document, the United States reaffirmed its intention to withdraw from the Paris climate agreement, but at the same time, all G20 countries agreed to work on improving energy efficiency.
