Contributing Lawyers

Canada

Cyndee Todgham Cherniak

United States

Susan Kohn Ross

Australia

Andrew Hudson



Zoellick on Protectionism

Former United States Trade Representative, Robert Zoellick, currently President of the World Back, has said the protectionist measures being employed in the United States now are "mistaken actions" that are "particularly dangerous" during an international recession.

Mr. Zoellick is in Ottawa, Canada, meeting with Canada's Finance Minister, Jim Flaherty, to sign an agreement on Global Trade Liquidity in which Canada commits $USD 200 million in funding to the World Bank's program to rebuild trade finance in developing countries. He agreed with Finance Minister Jim Flaherty that resorting to similar measures in Canada to retaliate would be a mistake.

Mr. Zoellick also said:

"In this environment, if you had protectionism burst out on one side or the other, or have some doubt put in about financial markets, those are the type of factors that could take a fragile situation and make it worse.''

It is nice to see a former U.S.T.R. admit that sometimes the law-makers in the United States are going down the wrong road.  The question is, how to you stop the vehicle from going off the cliff?

 

 

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