Protectionism in International Trade: New Trends

Abstract

Since 2019, various international institutions, including the WTO and the IMF, have recorded an increase in protectionism in international trade. With a slowing world economy, more and more developed and developing economies around the world are introducing economic mechanisms that have a negative impact on competition. This trend affects a significant part of world trade in goods and services and is likely to worsen in the foreseeable future. Capital-intensive sectors of the economy are increasingly protected by national governments. Newly introduced mechanisms are set to help avoid the mistakes of the mercantilist era and prevent further deterioration of macroeconomic indicators.