Peter Mandelson, European trade commissioner, has said the protectionist stances taken by the candidates in the US presidential race risk taking the world trading system back by decades.

In an interview with BBC Hardtalk to be broadcast today, Mr Mandelson said: "It is irresponsible to be pretending to people you can erect new protection, new tariff barriers around your economy in this 21st century global age and still succeed in sustaining living standards and jobs. It is a mirage and they know it."