Geithner at G7: No Cowboy Trade policy from US. Adminstration committed working with the rest of

[RB TexLa]

the world.


G7 finance ministers reject protectionist measures

By COLLEEN BARRY and ARIEL DAVID

ROME – The Group of Seven finance ministers pledged Saturday to avoid resorting to protectionism as they try to stimulate their own economies in the face of the world's worst economic crisis since the 1930s.

The meeting marked the international debut of U.S. Treasury Secretary Timothy Geithner, who assured his counterparts that President Barack Obama's $787 billion plan to resuscitate the economy, approved Friday, would not violate in any way the United States' commitment to free trade.

Geithner, who was among friends and colleagues he had worked with from his days at the Federal Bank, appealed to the "common imperative" to sustain open trade.

"These are global challenges and it is imperative that we work together to address them," Geithner told reporters afterward. "Effective global response will require sustained action by governments working with the international financial institutions."

http://news.yahoo.com/s/ap/20090214/ap_on_re_eu/eu_italy_g7