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Wed May 20, 2020, 07:55 PM

 

Merkel warns against trade barriers in face of coronavirus recession

Source: Politico

By JOSHUA POSANER
05/20/2020 06:57 PM EDT

BERLIN Countries should not resort to renationalization and protectionism in response to a "deep global recession" caused by the coronavirus crisis, German Chancellor Angela Merkel said Wednesday.

"It was ... clear that multilateralism faced a major challenge even before the pandemic, and this challenge has not become smaller," said Merkel, two days after she put forward a Franco-German plan for a 500 billion EU recovery fund.

Merkel was speaking after a videoconference with the heads of the International Labour Organization, the International Monetary Fund, the Organization for Economic Cooperation and Development, the World Bank and the World Trade Organization at which they discussed the economic response to the crisis.

"The answer to the pandemic can certainly not be to renationalize all international supply chains now; then everyone would pay a very high price," Merkel said.

Read more: https://www.politico.com/news/2020/05/20/merkel-warns-against-trade-barriers-in-face-of-coronavirus-recession-271945



More so than with any other current Western leader, I shall truly be sorry to see her go.

4 replies, 825 views

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Reply Merkel warns against trade barriers in face of coronavirus recession (Original post)
Joe Mauriceovich May 2020 OP
Steelrolled May 2020 #1
Igel May 2020 #2
Steelrolled May 2020 #3
pampango May 2020 #4

Response to Joe Mauriceovich (Original post)

Wed May 20, 2020, 08:04 PM

1. Sounds like Merkel would support fast-tacking an EU-UK trade agreement.

 

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Response to Steelrolled (Reply #1)

Wed May 20, 2020, 08:39 PM

2. And dropping Russian sanctions.

Yeah, that's where the OP's reasoning leads.

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Response to Igel (Reply #2)

Wed May 20, 2020, 11:52 PM

3. This just might have something to do with Germany's positive trade balance

 

Free trade working out well for them.

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Response to Joe Mauriceovich (Original post)

Thu May 21, 2020, 06:13 AM

4. She must have read the history of Herbert Hoover's protectionist policies at the onset of the Great

Depression. They did no good. FDR reversed them. She is more in the FDR style of internationalism coupled with "New Deal" style domestic policies.

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