Protectionism Is Not Right Response to the World's Problems, Says Merkel

By FeaturesDow Jones Newswires

German Chancellor Angela Merkel emphasized the need for multilateral approaches to deal with challenges stemming from globalization, saying protectionism would be the wrong response to solve problems.

Speaking at the World Economic Forum in Davos, Switzerland, the acting German chancellor defended multilateralism after it has recently come under increasing attacks.

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"We believe that isolation isn't helping us. We believe that we must cooperate and that protectionism isn't the right response," Ms. Merkel said.

"And we believe that if we come to the conclusion that things aren't fair, that mechanisms aren't reciprocal, that we should then look for multilateral solutions and not unilateral ones as they would ultimately promote isolation and protectionism."

Ms. Merkel didn't name the U.S. but her comments come shortly after President Donald Trump signed orders to curb cheap imports from China and other Asian manufacturers that he said unfairly harmed American manufacturers. He announced Monday steep tariffs aimed at protecting U.S. makers of solar panels and washing machines.

Mr. Trump is due to outline his "America First" policies at the gathering of world leaders and top corporate leaders, which has been a fierce defender of globalization for decades.

Write to Andrea Thomas at andrea.thomas@wsj.com

(END) Dow Jones Newswires

January 24, 2018 09:25 ET (14:25 GMT)

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