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2019-03-19 11:29:02 BdST

Trade conflicts damaging world economy, German minister says

German Finance Minister Olaf Scholz has said trade conflicts are damaging the global economy and Europe must speak with united voice to maximise its bargaining power.

He came up with the remarks in a speech at a ‘World Policy Forum’ conference in Berlin on Monday, reports Reuters.

“Trade conflicts, as we have seen over the last months – especially between richer countries only thinking of their own (short-term) interest – are damaging the world economy,” the German minister said.

“Trade policy has been an EU-level responsibility for a long time. It is obvious that we have much more bargaining power if we speak with one European voice,” Scholz added. “Only together we are able to set and enforce standards of fair trade.”

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