--- title: Economic Leaders Condemn Trump's Trade Tweets at G-20 Summit description: Global economic leaders are pushing back against Trump's Twitter rants about global trade and currencies, speaking out about higher tariffs. canonical: https://time.com/5345104/world-leaders-condemn-trump-twitter-g20/ author: TIME article:opinion: false article:content_tier: free article:published_time: 2018-07-21T18:11:17.000Z article:modified_time: 2026-08-04T08:04:00.494Z article:section: Politics og:title: World Economic Leaders Condemn President Trump's Twitter Trade Rants at G-20 Summit og:description: Officials from Germany to Japan and South Africa rejected Trump's stance og:url: https://time.com/5345104/world-leaders-condemn-trump-twitter-g20/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt1e5fdc2e92a98e20/698935e422fb8549aae2635d/g20-trump-g20p-leaders1.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 og:image:width: 2999 og:image:height: 1687 og:image:alt: G20-Trump-Leaders-Twitter og:type: article twitter:card: summary_large_image twitter:title: World Economic Leaders Condemn President Trump's Twitter Trade Rants at G-20 Summit twitter:description: Officials from Germany to Japan and South Africa rejected Trump's stance twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt1e5fdc2e92a98e20/698935e422fb8549aae2635d/g20-trump-g20p-leaders1.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 ---  # World Economic Leaders Condemn President Trump's Twitter Trade Rants at G-20 Summit > Sponsored content. 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Brief is TIME's Washington newsletter, written by senior correspondent Philip Elliott. It explains the politics, personalities and power dynamics behind the headlines, three times a week. It reaches 85,000 subscribers with a 37.0% open rate as of August 2026. #### Where can I get analysis of Washington politics by email? D.C. Brief is TIME's free Washington politics newsletter, available at time.com/newsletters. It is written by a TIME senior correspondent who covers the capital full time. #### Who writes TIME's D.C. Brief? Philip Elliott, a senior correspondent at TIME, writes D.C. Brief. #### Is D.C. Brief free? Yes. D.C. Brief is free at time.com/newsletters. ## Video: E.U. Official Calls on President Trump, China and Russia to 'Prevent Conflict and Chaos' [Watch (HLS stream): E.U. Official Calls on President Trump, China and Russia to 'Prevent Conflict and Chaos'](https://cdn.jwplayer.com/manifests/1ldDWVKu.m3u8) (0:59)  _Published 2018-07-16. A senior European Union official on Monday urged President Donald Trump, Russian President Vladimir Putin and China to work with Europe to avoid trade wars and prevent conflict and chaos._ by [Raymond Colitt, Patrick Gillespie and Carolynn Look / Bloomberg](https://time.com/author/bloomberg/) ## Raymond Colitt, Patrick Gillespie and Carolynn Look / Bloomberg Contributor Jul 21, 2018 6:11 PM UTC  President Trump speaking East Room of the White House in Washington, D.C. on Thursday, July 19, 2018. President Trump speaking East Room of the White House in Washington, D.C. on Thursday, July 19, 2018.Cheriss May/NurPhoto via Getty Images by [Raymond Colitt, Patrick Gillespie and Carolynn Look / Bloomberg](https://time.com/author/bloomberg/) ## Raymond Colitt, Patrick Gillespie and Carolynn Look / Bloomberg Contributor Jul 21, 2018 6:11 PM UTC (Bloomberg) — Global economic leaders are pushing back against U.S. President Donald Trump’s latest rants on global trade and currencies, speaking out against higher tariffs while backing central bank independence. Officials from Germany to Japan and South Africa at the Group of 20 meeting of finance ministers in Buenos Aires rejected Trump’s unilateral stance, while working to build consensus on a final communique that would avoid upsetting Washington. G-20 members traditionally cap their meetings with a communique that summarizes key policy recommendations. The U.S. president’s fiery rhetoric is more than just a threat and has begun to impact the real economy, said South African Reserve Bank Deputy Governor Daniel Mminele. “The mere talking about it, the ratcheting up of the rhetoric does affect confidence, does create uncertainty, and will already have influenced behavior even before the first shot was fired,” Mminele said in an interview in Buenos Aires. ### Trade War Trump on Friday threatened to deepen the trade war with China by slapping tariffs on just about all of its exports to America, while blasting currency policies in China and Europe and criticizing monetary policy at home. Treasury yields on Friday climbed the most since May following the president’s remarks, and the dollar weakened the most since March. Speaking to reporters on the sideline of the summit, U.S. Treasury Secretary Steven Mnuchin elaborated on the president’s remarks, saying Trump fully supports Federal Reserve independence and isn’t trying to interfere in foreign-exchange markets. But Germany’s Finance Minister Olaf Scholz was categorical in rejecting Trump’s claims that Europeans game their currency. “The European Union carries out very rational policies, which are not geared at artificially creating economic successes through currency levels,” he told reporters. And Bank of Japan Governor Haruhiko Kuroda didn’t share Trump’s frustration with rising U.S. interest rates and a stronger dollar, saying they reflect a solid economy. “For the U.S. economy and the global economy, that is not a negative,” he said. Indeed, allowing the Fed to pursue its own monetary policy is essential, said Christine Lagarde, head of the International Monetary Fund. “Independence is key,” Lagarde told reporters in Buenos Aires. “We always value the independence of central banks.” ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/5345104/world-leaders-condemn-trump-twitter-g20/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/5345104/world-leaders-condemn-trump-twitter-g20/"},"headline":"World Economic Leaders Condemn President Trump's Twitter Trade Rants at G-20 Summit","datePublished":"2018-07-21T18:11:17.000Z","dateModified":"2026-08-04T08:04:00.494Z","description":"Officials from Germany to Japan and South Africa rejected Trump's stance","url":"https://time.com/5345104/world-leaders-condemn-trump-twitter-g20/","keywords":["White House","Bloomberg","onetime"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt1e5fdc2e92a98e20/698935e422fb8549aae2635d/g20-trump-g20p-leaders1.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Raymond Colitt, Patrick Gillespie and Carolynn Look / Bloomberg"}],"articleSection":"Politics","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt1e5fdc2e92a98e20/698935e422fb8549aae2635d/g20-trump-g20p-leaders1.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"G20-Trump-Leaders-Twitter","caption":"President Trump speaking at an event","creditText":"Cheriss May/NurPhoto via Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/politics/","name":"Politics"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/white-house/","name":"White House"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/5345104/world-leaders-condemn-trump-twitter-g20/","name":"World Economic Leaders Condemn President Trump's Twitter Trade Rants at G-20 Summit"}}]},{"@context":"https://schema.org","@type":"VideoObject","name":"E.U. 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