G20 financial leaders, however, reaffirmed their a commitment to refrain from competitive currency devaluation, a key agreement as the USA has repeatedly complained that some of its trade partners are using artificially devalued currencies to gain a trade advantage.
By comparison, last year's meeting called on them to resist "all forms" of protectionism.
The Trump Administration's America First policy had global implications on Saturday, as the Group of 20 finance ministers failed to agree on free trade and dropped any mention of climate change from their joint statement. German finance minister Wolfgang Schaeuble, speaking to reporters after the meeting, said the talks were long and frank.
The G20 finance ministers and their bankers have already reached agreement on a slew of issues including market regulation, moves to combat terrorist financing and promoting economic development in Africa.
Trump has repeatedly emphasized that the USA needs a tougher approach to trade that would put American workers and companies first.
The draft of final joint communique of meeting, which gathered G20 finance ministers and central bank chiefs, has been agreed and includes provisions on worldwide trade, German Finance Minister Wolfgang Schauble said on Saturday.
Where the U.S. has threatened foreign manufacturers with steep import taxes, France "rejects all unilateral protectionist measures", Sapin added.
The G-20 is due to also discuss ways to strengthen the global economy and create more jobs.
The United States has already said it would keep a close eye on the levels of key global currencies, but pursue policies in the interest of "economic growth that is good for the USA and the rest of the world". Europe was keen on adding that trade should be "rules-based", meaning subject to rules of the World Trade Organisation (WTO). "But it is not very clear what (protectionism) means to each (minister)".
That stance has grated Washington's partners, who are trying to persuade US Treasury Secretary Steven Mnuchin to renew a long-standing G20 anti-protectionism commitment and uphold an global deal on climate won only after years of painful negotiations. Germany has a $65bn trade surplus with the US.
The G20 countries are expected to issue a final communique reiterating that "excess volatility and disorderly movements" in exchange rates can have "adverse implications" for economic and financial stability.
The finance ministers' meeting will pave the way for a summit of national leaders in Hamburg, Germany, on July 7 and 8.
The G-20 is an informal forum on economic cooperation made up of 19 countries with more than 80 percent of the world economy, plus the European Union.