STATEMENT FROM MERKEL ON GLOBAL TRADE


03/10/2019




Selin ATAY-TDO-  German Chancellor Angela Merkel said there was still hope for a settlement of trade tensions between the US and China, adding: "I hope that the US and China reach a compromise."

German Chancellor Merkel, the organization for Economic Cooperation and Development (OECD) Secretary General Jose Angel in fact, the International Monetary Fund (IMF) David Lipton deputy director general of the World Trade Organization (WTO) Director Roberto Azevedo, International Labor Organization (ILO) Director General Guy Ryder, and the president of the World Bank David Malpass congregated in Berlin the capital.

In a press release after the meeting, Merkel expressed her thoughts on the growing global trade disputes and economic and political uncertainties.

"We have been negotiating for an orderly Brexit for three years," Merkel said, noting that the lengthening of Brexit talks has created tension in the global economy as Britain is a global player. “It creates huge uncertainty when you consider that Brexit should happen on October 31. People still don't know how their supply chains will work," she said.

Addressing the US-China trade tensions after the Brexit negotiations, “I hope that the US and China reach a compromise. Clearly, the world's two largest economies, the United States and China, are currently distressed about trade. Both sides need to work for reconciliation, and there is still hope for a solution to be reached. This clearly contributes a lot to reducing uncertainties and neutralizing them," Merkel said.


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