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Free Trade between the US and the EU: A Match Made in Heaven?

Authors
  • Connell Garcia, William;
  • Simons, Wouter;
  • Vandenbussche, Hylke; 6267;
Publication Date
Aug 24, 2018
Source
Lirias
Keywords
License
Unknown
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Abstract

While talks of a preferential agreement between the US and EU were put aside when President Trump came in office, the presidents of the two trading partners have recently expressed a new desire to aim for zero tariffs and non-tariff measures between them. This column estimates the gains from such a deal, taking into account global value chains and input-output linkages in production. It finds that free trade would substantially benefit both the EU and the US, and these gains would result from the reduction in non-tariff barriers rather than tariffs. / status: published

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