G20 countries enacting trade restrictions

Three trade organization leaders warned the G20 group of countries that new restrictive trade measures are “feeding fears” that protectionist policies are gaining momentum and will hamper global recovery. Representatives of the World Trade Organization, Organization for Economic Cooperation and Development, and United Nations Conference on Trade and Development reported that the “restraint to resist protectionism appears to be under increasing pressure” in countries where the economic crisis has hit hard. New restrictions range from tariff hikes and anti-dumping investigations to licensing and export constraints. Among those countries instituting textile trade restrictions are Argentina, Russia, India and Turkey.