EU Finds Trade Barriers Rising Since Global Crisis

(New York Times – Stephen Castle)

European exporters have faced more than 220 new and restrictive trade measures since the start of the global economic crisis, but a “protectionist worst-case scenario has been avoided,” according to a report due to be published Friday.

The document from the European Union’s trade commissioner, Catherine Ashton, says that in the 12 months since October 2008, “roughly 223” measures had been introduced by the EU’s trading partners or were under consideration, with Russia and Argentina responsible for the most.

However, the report says there is no sign of the spiral of protectionism that some had feared when the worldwide downturn took hold last year. “Although, new trade-restrictive and distortive policy initiatives have been implemented since the start of the crisis,” the document says, “a widespread and systemic escalation of protectionism has been prevented.” Read more here.