New German finance ministry pushes free trade at G20 meeting

Germany's new finance minister Olaf Scholz warned on Sunday that protectionism could harm future economic prospects and said Germany would continue talks to dissuade the United States from imposing planned punitive steel and aluminium tariffs.

Scholz told reporters en route to his first meeting of G20 finance ministers and central bank governors that he would underscore the importance of free trade for the global economy when he meets U.S. Treasury Secretary Steven Mnuchin on Monday.

The world economy is growing together “and it should stay together” said Scholz, a member of the Social Democrats, junior partners in Chancellor Angela Merkel's coalition government.

Free trade had a decisive role to play in securing future economic growth, Scholz said, adding, “That's why it would be difficult if protectionism played a bigger role.”