CAPE TOWN: Japan told its G20 counterparts that free, open and rules-based trade was important to sustain global economic growth, a senior finance ministry official told reporters on the sidelines of a gathering of the group’s finance leaders on Wednesday.

Japan also called on G20 members to take “highly predictable” economic policies and bear in mind the spillovers its policies could have on other countries, the official said, warning of the negative impact policy uncertainty could have on private-sector activity.

The official made the remarks after attending the first day of the G20 finance leaders’ gathering in Cape Town.

A number of finance ministers skipped the G20 gathering, and other top officials curtailed trips to a meeting marred by disputes over the main issues of climate, debt and inequality.

The absence of U.S. Treasury Secretary Scott Bessent complicated policymakers’ task of seeking clues on how Washington’s threats of higher tariffs could affect the global economy and financial markets.

Reuters