WTO warns U.S. against protectionism, security burden on trade

WTO warns U.S. against protectionism, security burden on trade    The United States was warned by the World Trade Organization against the risks of protectionism, and of trade barriers created by security-related policies in America, following the completion of a trade policy review of U.S. trade practices and policies compiled by the WTO.
   The WTO report expresses “some concern” about the trade and budget deficits in the U.S. It notes that “the presently perceived large bilateral trade imbalances that are now part of the U.S. current account situation could give rise to protectionist sentiment,” the WTO said today.
   The report also discusses the new security considerations after the Sept. 2001 attacks. It stresses that “the new U.S. security-related policies and practices should not become unnecessary trade or investment barriers,” the WTO said.
   Overall, the report praises America’s “largely open economy,” but cautioned that barriers persist in important areas. It cited barriers to market access in agriculture, steel, and textiles and clothing.
   The report noted that, since 2001, the United States has taken further steps to liberalize its trade regime on Most Favored Nation as well as preferential bases.