Multilateral cooperation behind the trade war headlines. CEPS Policy Contribution 08 Feb 2021.

Cernat, Lucian and Boucher, David (2021) Multilateral cooperation behind the trade war headlines. CEPS Policy Contribution 08 Feb 2021. [Policy Paper]

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Abstract

This paper highlights the importance of multilateral cooperation as an avenue for tackling technical barriers to trade (TBTs). These non-tariff barriers are some of the most prevalent affecting global trade. While the US-China trade war and its tariff escalation was grabbing headlines, multilateral cooperation was happening behind the scenes. The World Trade Organisation (WTO) TBT Committee has spent the past decade removing €80 billion worth of unnecessary trade costs affecting EU exports. This paper advocates the need for a renewed multilateral impetus in addressing TBT concerns as part of our post-Covid global recovery.

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