G20 Finance Officials Express Concerns Over Trump’s Tariffs

Source: Anadolu Agency (AA) quoted Jiji Press
Date: July 18, 2025

Context

Finance ministers and central bank governors from the G20 major economies gathered in South Africa to address global economic challenges. During this meeting, Japanese Finance Minister Katsunobu Kato voiced apprehension regarding the uncertainty generated by recent U.S. tariffs. Reuters+12Anadolu Ajansı+12Reuters+12

Key Highlights

Uncertainty in global markets
Japanese Finance Minister Kato warned that uncertainty surrounding U.S. tariff policy could disrupt both the economy and financial markets. This reflects wider concerns among G20 officials. World Economic Forum

Tariffs not a cure for trade imbalances
Kato emphasized that tariffs are an inappropriate method for resolving trade imbalances, signaling rising skepticism towards the U.S. approach. Reuters+13Anadolu Ajansı+13Business Standard+13

Range and impact of U.S. tariffs
Since April, the U.S. has implemented “reciprocal” tariffs ranging from 10% to 50% on various imports. Though some relief deals with select countries (China, EU, UK, Vietnam, Indonesia) were reached, new tariffs are scheduled to go into effect on August 1. These include blanket tariffs (30% on EU goods, 35% on Canada, 25% on Japan) and sector-specific levies—25% on autos, 50% on copper, and 200% on pharmaceuticals.Reuters+3Reuters+3World Economic Forum+3Anadolu Ajansı

Active negotiations and market response
Several nations are actively seeking better trade terms to avoid or revise these tariffs. While financial markets have shown resilience so far, concerns persist that prolonged uncertainty may eventually dampen business investment and consumer confidence. Reuters+9World Economic Forum+9uk.finance.yahoo.com+9

Summary

G20 officials, led by Japanese Finance Minister Katsunobu Kato, are increasingly concerned that President Trump's sweeping and unpredictable tariff measures are causing economic and financial instability. They view tariffs as ineffective at resolving structural trade imbalances and are urging diplomatic and market-based solutions instead.