By Todd Buell and Tom Fairless

BADEN-BADEN, Germany -- Global financial leaders Saturday failed to reach agreement on language that condemned protectionist trade policies, a sign of a rift between the new U.S. government and other global partners.

The statement issued after a two-day meeting in this ritzy German spa town said that governments were "working to strengthen the contribution of trade to our economies," but didn't mention a vow as in previous communications to reject protectionist practices.

The statement reiterated previous language against "competitive devaluations" of currencies. "We will not target our exchange rates for competitive purposes," the statement said.

The statement also included a commitment to increase fairness in the economy. "We will strive to reduce excessive global imbalances, promote greater inclusiveness and fairness and reduce inequality in our pursuit of economic growth," said the statement.

Write to Todd Buell at and Tom Fairless at

(END) Dow Jones Newswires

March 18, 2017 11:14 ET (15:14 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.