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World Leaders Agree On Reforming Global Trade Rules

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World Leaders Agree On Reforming Global Trade Rules
In a declaration released on Saturday, the leaders said the current system is "falling short of its objectives and there is room for improvement."
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Leaders at the G20 summit in Buenos Aires have reaffirmed their commitment to reforming the the World Trade Organization. 

In a declaration released on Saturday, the leaders said the current system is "falling short of its objectives and there is room for improvement." 

They noted that while global economic growth has been strong, it's also brought some risks with it like creating financial vulnerabilities, geopolitical concerns and trade issues.

Namely, the Trump administration's use of tariffs to escalate trade tensions, in particular with China, has prompted concerns that the U.S. could undermine future international trade deals. 

U.S. President Donald Trump and Chinese President Xi Jinping met for talks Saturday evening and came away with a temporary trade truce. 

World leaders will review the reform progress at the next G20 summit in Japan in 2019.

Additional reporting by Newsy affiliate CNN