Current world trends Protectionism

protectionist measures taken since 2008 according global trade alert.

since end of world war ii, has been stated policy of first world countries eliminate protectionism through free trade policies enforced international treaties , organizations such world trade organization policies of first world governments have been criticized protectionist, however, such common agricultural policy in european union, longstanding agricultural subsidies , proposed buy american provisions in economic recovery packages in united states.

heads of g20 meeting in london on 2 april 2009 pledged not repeat historic mistakes of protectionism of previous eras . adherence pledge monitored global trade alert, providing up-to-date information , informed commentary ensure g20 pledge met maintaining confidence in world trading system, detering beggar-thy-neighbor acts, , preserving contribution exports play in future recovery of world economy.

although reiterating had committed to, last november in washington, 17 of these 20 countries reported world bank having imposed trade restrictive measures since then. in report, world bank says of world s major economies resorting protectionist measures global economic slowdown begins bite. economists have examined impact of new trade-restrictive measures using detailed bilaterally monthly trade statistics estimated new measures taken through late 2009 distorting global merchandise trade 0.25% 0.5% (about $50 billion year).

since however, then-president-elect donald trump announced in november 2016 abandon tpp (trans-pacific partnership) deal, placing protectionist policies reflected in trumponomics on table, despite wishes of other g20 nations.