Protectionist Threat Increases

When I was in Brussells at the European Enterprise Institute in October to present my report on globalization, another participant at the seminar, André Sapir, argued that concerns about increased protectionism presented in my report were overblown, and that not much had really happened in that respect.

In response, I conceded that things could have been worse and that protectionist policies haven't been as far-reaching as in the 1930s, but pointed to several examples of it happening and also argued to pre-empt the emergence of more examples of protectionist policies we need to remind ourselves why such policies are bad.

Now we are seeing the U.S. deciding on higher tariffs on steel pipes and steel grating, further highlighting the very real threat of protectionist policies.