Why Don't Governments Do Away with Protectionism?

Author: Yasuyuki Todo, Faculty Fellow, RIETI

Raising awareness to combat protectionism

The global economy has been shaken by the protectionist measures of U.S. President Donald Trump. Having embarked on protectionism in January 2017 by withdrawing from the Trans-Pacific Partnership (TPP) agreement, the president has apparently gone on to order a hike on tariffs to 25% imposed on $200 billion worth of Chinese goods, as reported in August 2018. In response, China hit back with plans to impose new tariffs on $60 billion worth of products made in the United States. Likewise, in Europe, the United Kingdom is preparing to leave the European Union (EU) amid mounting support of parties on the extreme right advocating for protectionism in respective EU nations.

Read the entire article on the RIETI website

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