U.S Treasury Secretary Timothy Geithner will attend a gathering of finance ministers from seven industrialized nations in Rome tomorrow to urge fellow ministers to take exceptional measure to address challenges facing the financial sector.
The secretary will encourage his counterparts to take strong actions to address macroeconomic and financial sector challenges and will underscore that these extraordinary times call for exceptional and complementary measures by all, the Treasury Dartment said in an e-mailed message to Bloomberg.
The group of nations, known as the G7, meet to find ways to cooperate in resolving the global economic crisis.
The U.S. has come under suspicion that it could engage in protectionist policies in the midst of the crisis after an initial proposal in an economic stimulus package set to pass in Congress called for projects funded by the stimulus to only use iron and steel made in the U.S.
A modified version indicates that the 'Buy American' provision must be implemented in a manner consistent with U.S. obligations under international trade agreements, Reuters reported on Friday.