Is protectionism on the rise in Brazil and Argentina?
Argentina has tried limiting imports, like this coveted Barbie doll, to boost its domestic market.
Emerging economies including Argentina and Brazil are constructing barriers to international trade, the European Union's executive arm said today.
Rather than removing protectionist measures as their economies have improved, many countries are introducing new restrictions, said the European Commission in a report.
The commission found that the EU's trading partners had put up 131 new trade barriers in the past year, for a total of 424.
"Protectionism poses a real threat to the economic recovery," said EU Commissioner Karel De Gucht.
It singled out Argentina, Brazil, China, India and Russia for restricting trade.
Argentina figures amongst the biggest users of trade-restrictive measures. Argentina has made extensive use of the non-automatic import licences. …
Argentina remains the main user of border restrictions targeting imports … However, the last year has seen Brazil joining Argentina in seeking greater protection for its market.
The Economist has more on the heavy-handed trade restrictions in Argentina and Brazil.
The report was released ahead of a meeting of G20 leaders in November.