May 31, 2018 / 4:58 PM / a year ago

Britain's Carney says U.S. wrong to focus on goods trade deficit

WHISTLER, Canada, May 31 (Reuters) - The United States is wrong to focus so heavily on its goods trade deficit, Bank of England Governor Mark Carney said on Thursday after the U.S. said it would impose tariffs on European Union exports of steel and aluminium.

“It’s not our direct responsibility,” Carney said when asked about tariffs on Thursday during a panel discussion at a meeting of finance ministers and central bank governors from the G7 group of rich nations in Whistler, Canada.

“But the bigger context we would put this in is to say that this focus on goods trade, bilateral goods is not the right focus in a hyperconnected world where most of the economic activity, most people work, most small businesses, most women, work in the service sector,” he said.

Britain’s government criticised the new U.S. tariffs earlier on Thursday.

Reporting by David Milliken Editing by Chizu Nomiyama

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