oiip

A „new Washington consensus”

Trend Report 1 / January 2024 
By Johannes Späth

Abstract

This oiip trend report delves into the shift in the U.S. and the EU towards protectionist foreign trade policies, diverging from traditional free trade principles. Despite initial expectations of a return to free trade under President Joe Biden, the administration has maintained and expanded protectionist measures, emphasizing a labor-centered approach with import tariffs. This departure is situated within a broader global context, reflecting a growing alignment on economic security policies and strategic autonomy between the transatlantic partners. The phenomenon, termed "polite protectionism," reveals bipartisan support, influencing upcoming elections. The text elaborates on the evolving dynamics of global trade, highlighting the multifaceted motivations and consequences of the contemporary protectionist trend.

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