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Iron and steel further develop at G20 summit

Sep 05,2018
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further development at G20 summit with Opening up against protectionism

Over the past year, China has been frequently affected by protectionist moves in such fields as iron and steelphotovoltaic products and telecommunications.

Some countries still have an ingrained mindset to impose trade barriers and protectionism.

According to a report released earlier this week by the European Commission, about 150 new trade restrictions have been introduced by European Union (EU) countries in the past year, whereas only 18 existing measures have been dismantled. A total of almost 800 new measures have been identified since October 2008.

Global efforts to combat rising trade protectionism needed to be reinforced to help shield the fragile economic recovery, the report said.

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