Will the new year see a rise in protectionism?

Studies show that every year, US bus and railway fleets are upgraded by spending close to USD5.4 billion. Much of the vehicle and carriage assembly takes place in cost-effective regions of Asia.

To prevent this, the Obama administration has enforced Buy America – a federal law that ensures transportation projects utilize 60 percent of products manufactured in the U.S.

Some see this as a protectionist move, though others point to the fact that many governments around the world find ways to give work to large local firms so as to create domestic jobs. It is also the case that some manufacturing is shifting back to the US in any case, as a function of trends like rising costs in China and 3D printing.

Nevertheless, will the US move herald a rise in protectionist measures globally?

https://www.spireresearch.com/newsroom/spirethoughts/will-the-new-year-see-a-rise-in-protectionism/

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