CEO Comité Européen de l‘Outillage 
European Tool Committee 
Europäisches Werkzeugkomittee

Trade barriers: EU removes record number in response to surge in protectionism

The annual report on Trade and Investment Barriers, released today, shows that the European Commission has eliminated the highest number ever of trade barriers faced by EU companies doing business abroad. European exporters reported a major increase in protectionism in 2017.

Thanks to the barriers removed between 2014 and 2016, in 2017 EU companies exported additional €4.8 billion. This is the equivalent to the benefits of many of our trade agreements.

 

The report also shows that 67 new barriers were recorded in 2017, taking the total tally of existing obstacles to 396 between 57 different trading partners around the world. This confirms the worrying protectionist trend identified in previous years. China displayed the largest increase in new barriers in 2017, followed by Russia, South Africa, India and Turkey. The Mediterranean region also showed a notable rise in barriers for EU companies. The nine countries with the highest number of trade barriers still in place are all G20 economies.

 

Further information:

EC press release and trade report

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Posted in General Market News, Trade Barriers

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