May 31, 2018 / 7:49 PM / 3 months ago

U.S.-led protectionism is biggest threat to global economic recovery, Turkish deputy PM says

ISTANBUL, May 31 (Reuters) - Turkish Deputy Prime Minister Mehmet Simsek said on Thursday that U.S.-led protectionism is the biggest threat to global economic recovery, as Washington decided to move ahead with tariffs on aluminium and steel imports from Canada, Mexico and the European Union.

On Twitter, Simsek said that there are no winners to the protectionism game and chaos is the alternative to the existing rules-based system.

The United States said it was ending a two-month exemption from the tariffs for the two neighbouring countries and the EU, potentially setting the stage for a trade war with some of America’s top allies.

Reporting by Ezgi Erkoyun; editing by David Stamp

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