Finance ministers from the Group of 20 major economies pledged to protect global growth amid escalating trade tensions between the United States and China.

“We will continue to address these risks, and stand ready to take further action,” the finance ministers said in a joint statement. Leaders at the meeting indicated that the current trade war between the US and China was the primary threat to global growth at present.

French Finance Minister Bruno Le Maire said the tariff war between the two countries “has a very negative impact on world growth,” and urged them to resolve their disputes through the WTO.