US Treasury chief: trade partners like Trump policies

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Several officials at the G7 raised concerns about risks to global growth from the Trump administration's policy proposals, including tax reform, a senior US Treasury official said.

The draft will be reviewed before publication later on Saturday by the G7 finance ministers and central bankers who are discussing issues facing the world economy at a two-day meeting in Bari, Italy.

It said that from January to April this year, there were 7,911 Zika cases, 95.3 per cent down on the same period last year when there were 170,535 cases.

However, Mnuchin abstained from stating the USA commitment to the letter and spirit of the communique, despite all the efforts of his French and German colleagues.

"People feel much more comfortable today now that they've had the opportunity to spend time with me and listen to the president and hear our economic message on what the Trump economic agenda is, and that's about creating growth in the USA", said Mr. Mnuchin.

The US president has already pulled out of the Trans Pacific Partnership (TPP) and wants to re-negotiate the North American Free Trade Agreement (NAFTA).

Mnuchin, who skipped the opening session in Bari where academics spoke on inequality and growth, arrived long after other ministers and told reporters he was "excited" about the emerging new United States trade policy.

According to French Finance Minister Michel Sapin, all the other rich countries unanimously called on U.S. to respect global trade.

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Canadian Prime Minister Justin Trudeau has said he would consider retaliating against USA coal imports.

Their statement on the global economic threat posed by cyberattacks was released a day after tens of thousands of computers in some 100 countries were infected through a cyberattack.

The final communique of the meeting said the seven countries would use all policy tools - fiscal, structural and monetary - to boost economic growth.

They also say the US demand to balance trade bilaterally was not economically sound, because trade deficits and surpluses could only be analyzed in a global context.

The Italian G7 presidency has listed security as a "global public good" - including issues related to anti-terrorism financing, remittances and cyber security - and one of its four finance priorities.

Mnuchin said preliminary discussions have begun with Canada and Mexico to renegotiate NAFTA, a topic that came up for discussion during his one-on-one meeting with Canadian Finance Minister Bill Morneau. "We have to do that in a more profound way. and I think that is what is going on", he said.

The G-7 countries are Canada, France, Germany, Japan, Italy, the United States and the United Kingdom, with representatives of the European Union also attending.

Italian Finance Minister Pier Carlo Padoan said that Saturday's morning session on cybercrime was "unfortunately very timely", an apparent reference to the wave of ransomware attacks reported Friday in dozens of countries in which files were locked and money demanded to unlock them.

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