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EC report claims Argentina and Brazil are increasing trade barriers

Wednesday, October 19th 2011 - 16:51 UTC
Full article 6 comments
The report specifically mentions the local-content rules are specifically mentioned The report specifically mentions the local-content rules are specifically mentioned

Major trading nations led by Argentina, Brazil and Russia are raising barriers to international and threatening the global economic recovery, the European Union's executive arm said on Wednesday.

In a regular report on measure that restrict trade, the European Commission found that Europe's trading partners had put up 131 new trade barriers against the bloc in the past year, bringing the total to 424.

“Protectionism poses a real threat to the economic recovery. I am concerned that the overall picture has not improved,” EU trade Chief Karel De Gucht said in a statement.

Protectionist measures such as charges at borders, local-content rules, demands that EU firms share their technological know-how and financial support to specific sectors, had “an overall worrisome trade-distortive impact on world trade and investment,” the report said.

“A tendency towards industrialisation policies, which combine industrial support and trade-restrictive measures, has consolidated among emerging economies,” it added, singling out Argentina and the so-called BRIC countries - Brazil, Russia, India and China.

The report was released ahead of a meeting of G20 leaders in November and just days before European leaders were scheduled to meet in Brussels to find remedies for the bloc's financial crisis.

The findings echoed those of a World Trade Organization report this summer which warned against rising protectionist measures, as well as a growing volume of commodities export restrictions. Such moves violated a stand-still pledge by G20 nations made in 2008 not to slip into protectionism.

“New, planned or reinforced trade-related restrictions... continue to be a cause of concern” added the report.

Categories: Economy, Argentina, Brazil.

Top Comments

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  • xbarilox

    oh, poor EU, darling, those South American monkeys treat you bad :(

    Oct 19th, 2011 - 05:05 pm 0
  • Fido Dido

    when a bogus free trader cries/complain about protectionism against the so called BRIC nations, they, the so called BRIC nations, should know that they are doing something right what deeply hurts the bogus free trader.

    The cry baby, the bogus free trader, want's to export it's way out of trouble, but hear and see the reality: Oh noo, nice try, but you won't get it your way, says the so called BRIC nations.

    The US wants the same thing with the help of the FED of manipulating the dollar, export their way out of trouble, but it doesn't work. Uhmm, I wonder why, ah yes, jobs are still being outsourced out of the country even if media loves to spin it that jobs are coming back . Why do they do that? Election time plus to calm down their viewers that everything is just fine.

    Oct 19th, 2011 - 07:11 pm 0
  • Conqueror

    Of course Argentina and Brazil are doing this. Can't stand fair competition. Never mind. No-one needs the tossers.

    Oct 19th, 2011 - 08:18 pm 0
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