Sunday, September 4, 2016

What is Going on at the G-20 Summit in Hangzhou, China?

Before heading off to the G-20 Summit in Hangzhou, China,  Treasury Secretary Jacob Lew visited the Brookings Institution to discuss the topics that would be front and center at the summit.

Secretary Lew listed the top summit agenda items as the Trans-Pacific Partnership (TPP), Apple’s tax battle with Ireland and the European Union, U.S. economic growth over the last eight years, policies that include emerging economies in global economic growth, combating cybercrime, fossil fuel subsidies, and carbon pricing.

Lew  said President Obama is expected to focus heavily on environmental issues at the summit, including discussions on implementing the final stages of phasing out fossil fuel subsidies and adopting the recommendations of the Green Finance Study Group.

On whether he felt optimistic about passing the Trans-Pacific Partnership (TPP) before the end of Obama’s presidency, Secretary Lew said that he thinks there will be a vote on the trade deal by the end of President Obama’s term. He emphasized that the president remains committed to TPP and will use “every ounce of energy” that he and his administration have to see the deal through before he leaves office. Watch:


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