Protectionist decisions by Obama ahead of G20 summit

At the last G20 meeting in London on 2 April world leaders promised to reject protectionism but since then many nations have taken steps to protect their own businesses against foreign competition. In the runup to the next G20 summit in Pittsburgh on 24-25 September President Obama last week decided on new measures to curb imports from China. Punitive tariffs will be put on Chinese tires and steel pipes in an effort to help US manufacturers. The Wall Street Journal thinks this will open for demands from other industries to get protection, too.

China objects naturally, and they are right that the US are breaking promises made not to combat the economic crises with protectionism. One can only hope that other countries don't follow the lead of the US in this case. The world economy needs more trade, not a trade war.