Prof. Simon Evenett: VDMA Study Trade Barriers
Free trade is increasingly hampered by government protectionist measures around the world, and there is no relief in sight. On the contrary, in recent years the disputes between China and the United States, the Covid-19 pandemic, and state-led industrial policies are leading to new and deeper trade barriers worldwide. This augurs badly for Europe's export-dependent mechanical and plant engineering industry: as of the beginning of 2022, some 80 percent of all its exports face tariff barriers, or foreign competition aided by subsidies and or government export promotion measures. This is the central finding of the new study "Foreign Protectionism Affecting EU Mechanical Engineering Exports", prepared by the Global Trade Alert Team of the University of St. Gallen on behalf of the VDMA.
Please find more information in our press release
"Protectionism rising worldwide, harming global trade".
Latest videos