FUKUOKA, Japan (Reuters) – Most Group of 20 finance leaders said escalating trade tensions pose a huge downside risk for the global economy, a senior Japanese Ministry of Finance said on Saturday.

“With so many countries expressing concern over the fallout (from the trade tensions), there seems to be some momentum to reflect that in the communique. But there’s no conclusion yet,” the official told reporters.

G20 finance ministers and central bank governors gathering in the southern Japanese city of Fukuoka discussed the global economy and its risks, among other topics, on the first day of a two-day meeting that ends on Sunday.