Fewer trade restrictions so far this year: WTO

GENEVA -- Countries are not using emergency measures to temporarily restrict imports of products that compete with a domestic industry as much as they have in the past, the World Trade Organization (WTO) said on Monday.

WTO members have initiated only five of the restrictions — called “safeguards” in WTO parlance — so far this year, down from eight in all of 2007. The number of investigations peaked in 2002 at 34.

The WTO report covers the whole of 2008 and looks back to 1995, so does not reflect fears of growing protectionism that have emerged since the global financial crisis burst.

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