EU-China Leadership in Trade Policy: Feasible? Desirable? CEPS Commentary, 20 March 2017

Hu, Weinian and Pelkmans, Jacques. (2017) EU-China Leadership in Trade Policy: Feasible? Desirable? CEPS Commentary, 20 March 2017. [Policy Paper]

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Abstract

Given the nationalism and blunt protectionism that characterises President Trump’s trade policy, the primary focus of the EU should not be on how to respond to his rhetoric. The EU should rather double its efforts to pursue its own, sensible trade and investment liberalisation agenda. This is not only rational because of the economic gains that will come in the longer run from competitive winds that will blow in Europe, it is also appropriate because Trump is likely to find himself pretty much alone in his nationalistic and selectively protectionist agenda. The intended ‘bilateral deal’ approach, driven by (im)balances in bilateral goods trade, does not seem to have the backing of many, perhaps of no-one.

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