U.S. Isolated as OECD Decries Protectionism

PARIS (Reuters) - Washington got a blunt message from the rest of the world's wealthy nations over steel tariffs and farming subsidies on Thursday -- do not resort to protectionism.


Trade and finance ministers of the other 29 countries in the Organization for Economic Co-operation and Development took the United States to task during a two-day meeting at OECD headquarters in Paris.

"Grave concerns were expressed about a return to protectionism in the last few months," Guy Verhofstadt, Belgian prime minister and chairman of the OECD talks, said.

He blamed the tariffs on foreign steel imports into the United States and recently announced plans for billions of dollars in subsidies to U.S. crop and dairy farmers.

"The messages during the talks were very clear and those who needed to hear certainly heard," he said.