Given we have Deja Vu all over again with rising Fascism, concentration camps, nationalism and escalating warfare, a return to protectionist trade policies seems highly likely.  It's not that we don't learn from history, it's that the same causes produce the same effects.  The cause is basically that there is a huge amount of malinvestment and debt overhang in systems that require gobs of cheap energy to run, and the cheap energy is running out.

Leading up to WWII the new systems were automobiles that need petroleum to run and shipping where boats that had been run on coal were being converted to oil as well.  Airplanes also needed the Black Gold.  There was still tons of it untapped under the desert sands of MENA, so a mad scramble took place with the major powers all attempting to grab a piece of that property for themselves.

We have the same problem now with AI needing tons of energy, but unfortunately there's no place left to just punch holes in the ground and get gobs of it practically free.  The debts are coming due on real estate and factories that won't get paid off without continued growth and the banksters are losing faith in each other's currency.  The protectionism is a response to the attempt to extract money from each other from the malinvestment.  The Chinese can produce solar panels and EVs much cheaper because they front loaded and built out their production system on a ton of debt.  To pay it off, they have to sell their EVs and solar panels.  By dropping on tariffs, the FSoA tries to extract money and protect local producers of these items.  The end result is debts don't get paid and banksters get pissed.

Going to war won't solve the problem this time, so there is a lot of confusion about what to do?  Meanwhile in the poorer countries of the world goobermints are collapsing, anarchy and gangs are taking over and refugees are scrambling to get out as fast as they can.  This is creating a backlash in the countries they are trying to migrate to, creating the rising nationalism.

Next step is probably going to be attempts to shut down the borders and increasing civil conflicts between the haves and have nots.  We're closing in on the end game.

https://www.bbc.com/news/articles/ce93n7lgw5qo

'Protectionism eroding global business' - world trade chief

RE