Mandelson hits at US protectionism

The Obama administration is showing "dangerous signs" of moving towards protectionism, said Lord Mandelson, UK business secretary, adding there was the risk of "a real falling out" between America and Europe on trade, the Sunday Times reported.

Mandelson said a recent decision by the Pentagon to rejig the bidding for air-to-air refuelling tankers – which had caused Airbus, the European aircraft maker, to withdraw – had increased his concerns. "I am very worried about the trend toward protectionism in the US," he said. "These are very dangerous signs."

Mandelson said the UK had maintained an open door for US goods, particularly in the aerospace and defence markets. "They [the US administration] seem to think that international trade is a one-way street. This is unsustainable.

If we see further developments along these lines, we are going to have a real falling out," he said.

(Source: Cargo News Asia)