Merkel, Li Hail Trade Ties as Trump Pursues Protectionism
Source: Bloomberg
German Chancellor Angela Merkel and Chinese Premier Li Keqiang spoke out in favor of closer trade ties, signaling a global alliance opposed to the protectionist agenda of U.S. President Donald Trump.
Li and Merkel talked by phone on Wednesday and addressed “bilateral and multilateral issues,” according to German government spokesman Steffen Seibert. He said that Li accepted the chancellor’s invitation to visit Germany for more comprehensive talks on economic and trade issues.
“The two spoke in favor of free trade and a stable world trade order,” Seibert said in a statement. He added that “the negotiations over a European-Chinese investment accord should come to a successful completion quickly.”
The call between the leaders of the world’s No. 1 and No. 3 exporters suggests global battle lines are being drawn over free trade just as Trump scraps a long-negotiated trade pact with Pacific nations and escalates protectionist rhetoric. A showdown may come in July this year, when Merkel hosts a summit of Group of 20 leaders in the port city of Hamburg, gateway to the world for German high-end goods from Siemens machinery to BASF chemicals and the entry point for more Chinese goods than anywhere else in Europe.
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Read more: https://www.bloomberg.com/politics/articles/2017-01-26/merkel-li-push-eu-china-trade-ties-as-trump-lauds-protectionism
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