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Nations worry US trade could turn protectionist

[December 20, 2012]  GENEVA (AP) -- A biennial review of U.S. trade policy found concerns among nations that America's fiscal belt-tightening could make it more prone to protectionist measures.

Colombian Ambassador Eduardo Munoz Gomez, chair of a World Trade Organization review panel, says some nations fear U.S. financial recovery efforts "could have an adverse impact on trade, including financial support to certain industries, Buy American provisions, and the use of unconventional monetary policies with a consequential impact on exchange rates."

But Gomez told reporters Thursday that until now there has been U.S. "resistance to introduce protectionist measures, even during difficult times."

U.S. Ambassador Michael Punke told the WTO that commitment to avoid protectionism will continue because "the alternative would be a self-defeating spiral of actions that would damage our shared efforts at economic recovery and growth."

[Associated Press]

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