EU Fears Trade Barriers Enacted During Crisis May Be Permanent

(Matthew Dalton — Dow Jones Deutschland)

Most of the trade barriers erected by the European Union's trading partners during the economic crisis are still in place, posing a long-term risk to the global trading system, the European Commission said in a report released Friday.

Despite widespread fears that governments would broadly resort to such measures due to the global economic downturn, protectionism has been relatively restrained. But the barriers that have been put in place are becoming “permanent features” of the global economic landscape, the commission said.

“There is a risk that trade-restrictive measures introduced by our partners during the crisis will become part of the trade regime even when the economy picks up speed,” said EU trade commissioner Karel De Gucht. “What we need now is an exit strategy from protectionism.” Read more here.