Rise in trade protectionism

A new report has highlighted a worrying rise in trade protectionism over the first two quarters of 2011.

The 9th report of the Global Trade Alert initiative highlights that since November 2010 more than 150 trade restrictive measures have been implemented by G-20 governments. Among the trade-distorting measures catalogued by GTA were Indonesia?s decision to force food imports to use certain seaports, and China?s introduction of a ?national security? review of foreign acquisitions of local companies.

?The report highlights a worrying up-turn in protectionism, similar to that experienced at the height of the financial crisis,? Stephen Pattison, Director and CEO of ICC UK, said.

?The difference between then and now, however, is that trade policy is no longer at the forefront of the international agenda. The drift towards beggar-thy-neighbour policies must not be allowed to fly under the radar. We?ll be using our international network in the coming months to press for a renewed action on protectionism from the G-20.?