Germany's Merkel says protectionism hurts in the long-run

HAMBURG: Protectionist measures may bring a country short-term benefits but will hurt its competitiveness in the long-run, German Chancellor Angela Merkel said on Tuesday, in a thinly veiled warning to US President Donald Trump.

Merkel said last month that after meeting Trump she hoped the United States and the European Union could resume discussions on a trade agreement.

She had previously called for globalisation to be framed in multilateral agreements rather than see countries adopt protectionist measures. Trump has said he does not believe in isolationism but that trade policy should be fairer.