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protectionism

Malaysia warns of ‘domino effect’ from US-China trade tensions

SINGAPORE: Trade tensions between the United States and China will trigger a “domino effect” of protectionist measures, Malaysia warned on Tuesday as Asian leaders gathered for a summit overshadowed by the tit-for-tat tariff war between Washington and Beijing. The comments by Prime Minister Mahathir Mohamad in Singapore came as China’s premier – for a second day – struck a conciliatory note on the trade spat, saying he was hopeful that the two sides will find a way to prevent it escalating further. “I still hope we can…

Merkel warns Trump against protectionism

BERLIN: German Chancellor Angela Merkel warned Saturday against protectionist tendencies of US President-elect Donald Trump, citing lessons learned in the 2008 global financial crash and stressing the need to "move forward together". "My profound conviction is that there are more advantages... to moving forward together than when everyone resolves their problems for themselves. I am truly convinced of this," she told a press conference at a meeting of her CDU party. Asked if she believed "protectionist tendencies" by…

APEC leaders vow to fight protectionism, look to China on trade

LIMA: Pacific Rim leaders vowed on Sunday to fight protectionism and Chinese officials said more countries are looking to join a China-led trading bloc after Donald Trump's election victory raised fears the United States would scrap free trade deals. Trump campaigned for US president on a promise to pull out of the 12-nation Trans-Pacific Partnership (TPP) trade deal, and also threatened to impose steep tariffs against China and Mexico. Regional leaders responded on Sunday, saying they would push ahead with the TPP.…

IMF warns of protectionist threat to global growth

WASHINGTON: The IMF on Tuesday left its global economic forecasts unchanged into 2017 but called on governments to take action against the threats of low growth and protectionism. With Britain voting to secede from the European Union and US presidential candidates disfavoring open borders, the International Monetary Fund said populist politics imperiled free trade and economic growth. Global output is expected to grow this year by 3.1 percent before rising to 3.4 percent next year, estimates that are unchanged from July,…