Who Benefits from a Transatlantic Free Trade Agreement? Policy Brief #2013/04

Schoof, Ulrich and Petersen, Thieß and Felbermayr, Gabriel (2013) Who Benefits from a Transatlantic Free Trade Agreement? Policy Brief #2013/04. [Policy Paper]

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Abstract

From a purely economic standpoint, the US and the entire EU will profit from a dismantling of tariffs and non-tariff trade barriers between both regions. The real gross domestic product per capita would increase in the US and in all 27 EU member countries. Also when one looks at labor markets, the positive effects on employment predominate: Two million additional jobs could be created in the Organization for Economic Co-operation and Development (OECD) zone over the long run. The public welfare gains of these economies admittedly do stand in contrast with real losses in income and employment in the rest of the world. On balance, however, the beneficial effects on economic welfare prevail.

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