Commodities sit at the heart of global trade and as such are at the centre of the rise of protectionism. After a long period of globalisation and ever freer trade, there is a perceptible and growing shift back to mercantilism and protectionism. This is driven by great-power competition, with the energy transition being a key driver. Tariffs, sanctions and direct market intervention are ever more commonplace.
Discussing this trend with our host Paul Chapman is Alex Tuckett, Head of Economics at CRU, the independent commodity analytics, consulting and pricing agency.