jan 1, 1971 - USA introduced NTBs and turns towards protectionism

Description:

As Japan's cheap goods became increasingly popular, American producers fought for protection.
Nixon didn't want to impose full on protectionists measures to be implemented, so he decided to go with NTB, or Nontariffs barriers, which are barriers on imports that are not tariffs but are for example antidumping standards or voluntary export restrains (VER)

Added to timeline:

Date: