• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • About
  • Gowling WLG
  • Legal information
  • Privacy statement
  • Cookie Policy
  • Home
  • About
  • Posts
  • Blogs
    • B2022
    • The IP Blog
    • Public Law & Regulation
    • AI
    • The Unified Patents Court

LoupedIn

The future of global trade means acting on increased global protectionism

April 13, 2021, David Lowe

The future of global trade means acting on increased global protectionism

Post Brexit, the UK is finding its feet as it develops an international trade policy.  No more can the UK hide behind and blame the EU for tariffs and trade barriers.  And as any British fisherman can tell you, the birthing pains of Brexit has brought home the very direct and substantial impact that trading across a hard border can cause even if there are zero tariffs.  This means the UK has to weigh up the needs and opportunities for UK industry against other agenda items – for example should the UK push ahead with a tech tax knowing that the US is threatening responding with tariffs on UK exports such as ceramics.

Our research indicates that trade protectionism is on the rise around the globe and that there has been a sharp and sustained increase in discriminatory – or trade restricting – policies being implemented worldwide since the global financial crisis. The need to overcome the regulatory barriers this endemic global protectionism creates could of course, not be greater. Ongoing macroeconomic issues such as changing political landscapes and the coronavirus pandemic continue to pose unprecedented challenges to governments.  The solutions to these problems were once thought to lie in multilateralism and consensus.  As restrictive practices are on the rise, however, it is not clear whether solutions can be found on a bilateral level.

Where the data itself is concerned,  it is significant to note the largest accumulator of protectionist policies is the US, which has adopted three times as many restrictive measures over liberalising policies in the past three years as it had between 2009 and 2017. While the urgency of addressing this is slightly dampened by the more global approach to politics taken by the new US President, the report also cites the detrimental effect the Trump administration’s approach to protecting domestic trade has had on China as a result of their ongoing (and hopefully now historical) trade war. Indeed, the first high-level meeting between the US and Chinese administrations since Joe Biden took office has recently taken place in Anchorage, Alaska – and while the talks got off to a rocky start, the US government seems committed to being both collaborative and competitive with China in the future – which seems a healthier culture to be working within. Despite this optimism though, just two countries surveyed within the report – Brazil and Argentina – have significantly implemented liberalising measures since the report was first launched in 2017.

For businesses with a global reach, finding practical ways to trade seamlessly across borders is crucial to their success. The need to rewire global supply chain management processes to take into account restrictions in certain countries and make necessary contractual changes to ‘future proof’ these supply chains is just one example of the steps businesses are taking to protect the businesses models built in the ‘boom’ era before these restrictions were implemented.  However, various other hurdles remain.  This includes the application of IP rights within a certain international jurisdictions, as well as regulatory compliance, government stability and of course, currency movements.

While there has been a recent burst of positivity where the future of global trade is concerned, these figures and the startling warning they provide highlight the need to be prepared to challenge existing practice and consider new options, as this could turn out to be an essential survival tactic.

About the author(s)

Photo of David Lowe
David Lowe
View David's profile |  See recent postsBlog biography

David Lowe is an experienced partner focusing on commercial contracts and the firm's Head of International Trade. He also plays a crucial role in the firm's Brexit Unit.

    This author does not have any more posts.

Filed Under: Analysis Tagged With: Brexit, global trade, Protectionism

Views expressed in this blog do not necessarily reflect those of Gowling WLG.

NOT LEGAL ADVICE. Information made available on this website in any form is for information purposes only. It is not, and should not be taken as, legal advice. You should not rely on, or take or fail to take any action based upon this information. Never disregard professional legal advice or delay in seeking legal advice because of something you have read on this website. Gowling WLG professionals will be pleased to discuss resolutions to specific legal concerns you may have.

Primary Sidebar

Recent Posts

  • UPC’s first decision concerning a second medical use patent
  • Sole(ly) aesthetic? The Birkenstock Sandal goes to the Federal Court of Justice
  • UK Litigation Funding: reform or retain?

Tags

Artificial Intelligence (AI) (62) Autonomous vehicles (11) b2022 (19) Birmingham 2022 (8) Birmingham 2022 Commonwealth Games (15) Brexit (23) Climate change (16) Collective defined contribution (6) COP26 (11) Copyright (11) COVID-19 (23) Cyber security (7) Data protection (8) Defined contribution (7) Dispute Resolution (14) Employment (14) employment law (11) Environment (18) Environmental Societal Governance (9) ESG (50) ESG and pensions (11) General Election 2024 and pensions (8) Intellectual Property (87) IP (10) Life sciences (7) litigation funding (8) net zero (6) Patents (41) Pensions (53) Pension Schemes Act 2021 (11) Pensions dashboards (7) Pensions in 2022 (10) Pensions law (43) Procurement (7) Public Law & Regulation (39) Real Estate (27) Retail (8) sustainability (21) Tech (58) The Week In Pensions (11) Trademarks (16) UK (15) unified patents court (9) UPC (40) Week in HR (8)

Categories

Archives

Gowling WLG is an international law firm comprising the members of Gowling WLG International Limited, an English Company Limited by Guarantee, and their respective affiliates. Each member and affiliate is an autonomous and independent entity. Gowling WLG International Limited promotes, facilitates and co-ordinates the activities of its members but does not itself provide services to clients. Our structure is explained in more detail on our Legal Information page.

Footer

  • Home
  • About
  • Gowling WLG
  • Legal information
  • Privacy statement
  • Cookie Policy

© 2025 Gowling WLG