Protectionist policies on rise

WASHINGTON, March 18 (UPI) -- A World Bank report says 17 of the 20 nations that met for a summit in Washington in November have broken promises on protectionism.

Since November, China, Russia and the United States have all passed measures that are designed to limit imports, The Washington Post reported Wednesday.

Faced with a severe economic slowdown, the "worrying" trend toward protectionist policies could escalate to a global trade war, the newspaper said.

For example, Mexico on Tuesday pledged to put restrictions on 90 U.S. import items in response to a new U.S. policy that stops Mexican truck drivers from transporting goods into the United States.

Robert Zoellick, president of the World Bank Group said, "leaders must not heed the siren-song of protectionist fixes, whether for trade, stimulus packages or bailouts."

The World Bank said 47 new protectionist measures have been passed since November, about one-third of those involving raised tariffs. Many of the restrictions, however, are less obvious, such as tighter licensing requirements or increased subsidies for domestic producers.