"We call on International Monetary Fund and World Bank management to develop a joint "action plan" on debt transparency and sustainability to guide future work, ensure strong coordination between institutions, and boost visibility around these efforts", Mnuchin said. Those meetings will conclude on Saturday.
"The IMF must step up to the plate on this issue, providing a more robust voice and consistently noting when members maintain macroeconomic, foreign exchange, and trade policies that facilitate unfair competitive advantage or lead to imbalanced growth", he said.
Still, he said the U.S. would continue to exert its "maximum pressure" campaign until the rogue regime abandons its nuclear weapons program in a proven way.
"We strongly reject moves towards protectionism and away from the rules-based global trade order", said Már Guðmundsson, governor of the Central Bank of Iceland.
As close allies in the European Union "we expect not only temporary exemption but a full and permanent exemption", he said.More news: Whiteside seeks more touches, minutes but insists trust on Heat coach Spoelstra
But German central bank chief Jens Weidmann said the G20 officials all agreed trade must benefit all countries.
"At the same time, we urge the International Monetary Fund to speak out more forcefully on the issue of external imbalances, including by providing clear policy recommendations for countries with large surpluses, in support of more balanced global growth", Mnuchin added.
"It's been going on, on an industrial scale, over many years and we've been targets of it just as the USA has". In recent weeks, the Trump administration imposed tariffs on imported steel and aluminum and threatened to slap punitive tariffs on up to $150 billion in Chinese products.
Other countries have used the gathering to protest Trump's protectionist trade policies, which mark a reversal of seven decades of US support for ever-freer global commerce.
A European official at the meetings said policymakers were trying to reduce trade pressures during the talks, but added that they wanted to "make sure there is a level playing field on trade, that China is in the same framework that others share".More news: Range Resources Sees Unusually Large Options Volume (NYSE:RRC)
Tensions between the world's two largest economies have cast a shadow over this week's gathering of finance ministers, given concerns a trade war would undercut the global recovery. China counterpunched by targeting $50 billion in USA exports.
Le Maire repeated his criticism of the United States tariffs on steel and aluminum which were aimed at China but only spared the European Union and other key trading partners under a temporary exemption that is due to expire May 1.
"Ensuring that trade is free, fair, and reciprocal will boost global trade and support stronger, more sustainable growth". America and the United Kingdom played leading roles in creating the fund during the Second World War to oversee the global monetary system and steer countries away from the beggar-thy-neighbor policies that took root during the Great Depression.
The IMF forecasts 3.9 percent growth this year and next, the fastest since 2011, thanks to increasing investment and solid job growth. And most of the world is sharing in the prosperity, making this the broadest economic expansion in a decade.
While the meeting with Yi did not focus on trade with China, Mnuchin said he remains "cautiously optimistic" about the issue.More news: Britain's Queen Elizabeth II celebrates 92nd birthday
Mnuchin says Trump "has been very clear on what on what our objectives are".