France criticized Washington's trade tactics on Friday, demanding Europe be permanently exempt from US steel tariffs, while refusing to be drawn into a "vain and pointless" trade fight with China.

"We will not be satisfied with a provisional exemption," French Economy Minister Bruno Le Maire said on the sidelines of the spring meetings of the World Bank and International Monetary Fund.

"The increased tariffs cannot weigh like a sword of Damocles on trade relations among states," he said, warning that France would not "enter a battle with China."

"This would be vain and pointless."

The "real matter is redefining trade multilateralism while acknowledging the reality of China," he added, saying reforms were necessary in Chinese trade practices that have long faced criticism as unfair and overly subject to state intervention.

"We have difficulties in steel overcapacity. We have an issue on the protection of our technologies, we do not want the plunder of French technolgies," said Le Maire.

The remarks, which partly restated earlier positions taken by France, come less than two weeks before Washington's metal tariff exemptions are due to expire for major trading partners, including Europe, Mexico, Canada and others.

Le Maire's statements constituted a pointed rebuttal to Washington's stance in the trade tensions that have hung over this week's meetings, a traditional bastion of trade liberalizaton.

IMF chief Christine Lagarde and World Trade Organization Director-General Roberto Azevedo have warned new trade barriers and sabre-rattling on commerce threatened to undermine the global economic recovery.

European and American officials said last month they had begun talks to resolve differences over metal imports after President Donald Trump unveiled the punishing tariffs of 25 percent on steel and 10 percent on aluminum.

But US Treasury Secretary Steven Mnuchin told the gathering on Friday that unfair trade was itself a threat to global prosperity and called on the IMF to "step up to the plate" in addressing global imbalances.

Le Maire said he was heartened that European member countries had maintained a united front in dealing in the trade talks.

"I am delighted that efforts at division did not work and that no country has given in to the urge to negotiate separately," he said.

G20 didn't discuss US-China trade tensions: Argentine official
Washington (AFP) April 20, 2018 - The Group of 20 finance ministers avoided discussion of the US-China trade dispute on Friday, despite repeated comments from officials about the danger it poses to the global economy.

"We didn't have a discussion on specific measures on trade," Argentine Treasury Minister Nicolas Dujovne told reporters after the meeting. "The G20 is not the place to discuss specific measures. That's the WTO."

It was a surprising omission for the group that was key to shepherding the global economy through the 2008 financial crisis and preventing another depression.

But Dujovne said, "We have to also recognize the limitations that we as a group have...and try to find a consensus even if the consensus is more limited than we want."

The ministers did express concern over the growth of "inward looking policies," he said, using a frequent euphemism for trade protectionism.

The G20 meeting is held as part of the spring meetings of the International Monetary Fund and World Bank.

The gathering of finance ministers and central bank governors has been overtaken by the escalating tariff threats between the United States and China.

The IMF has singled out the trade tensions as a key downside risk to the otherwise solid global recovery.

IMF chief Christine Lagarde has said the dispute undermines confidence and could choke off investment.

She has urged governments to "steer clear of protectionism" and to resolve disputes through dialogue rather than unilateral action.

"Investment and trade are two key engines that are finally picking up. We don't want to damage that," she said at a Thursday press briefing to open the spring meetings.

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IMF's Lagarde warns against harming trade, investment
Washington (AFP) April 19, 2018
With US-China frictions hanging over its annual meeting, the International Monetary Fund on Thursday warned governments to avoid harming trade and investment, which have been key drivers of the global economic recovery. IMF chief Christine Lagarde said escalating trade tensions could reverberate through the world economy, undermining confidence and choking off investment, urging the resolution of the disputes through dialogue. "Investment and trade are two key engines that are finally picking up ... read more