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Assessing proposals for a transatlantic free trade area

Author

Listed:
  • Langhammer, Rolf J.
  • Piazolo, Daniel
  • Siebert, Horst

Abstract

Initiatives to reduce transatlantic trade barriers or to harmonize trade-related domestic policies in the EU and the US appear regularly on the agenda of policy makers. The last decade saw also considerable steps in transatlantic economic cooperation focusing on special aspects. In February 2002, a new call for a study on the benefits of a transatlantic free trade area (TAFTA) was made by the President of the EU Council to facilitate further liberalization schemes. This article examines recent developments in transatlantic economic policies, discusses changes in approaches in transatlantic regionalism and presents estimates of the economic consequences of transatlantic liberalization. Given the expected small benefits of a TAFTA and the induced costs for multilateral liberalization negotiations, the article discusses alternatives to TAFTA and argues for a multilateral approach, eventually being accompanied by some sort of open regionalism.

Suggested Citation

  • Langhammer, Rolf J. & Piazolo, Daniel & Siebert, Horst, 2002. "Assessing proposals for a transatlantic free trade area," Open Access Publications from Kiel Institute for the World Economy 2769, Kiel Institute for the World Economy (IfW).
  • Handle: RePEc:zbw:ifwkie:2769
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    References listed on IDEAS

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    1. repec:wsi:wschap:9789812701350_0018 is not listed on IDEAS
    2. Juergen B. Donges & Andreas Freytag & Ralf Zimmermann, 1997. "TAFTA: Assuring its Compatibility with Global Free Trade," The World Economy, Wiley Blackwell, vol. 20(5), pages 567-583, August.
    3. Siebert, Horst & Langhammer, Rolf J. & Piazolo, Daniel, 1996. "TAFTA: fuelling trade discrimination or global liberalisation?," Kiel Working Papers 720, Kiel Institute for the World Economy (IfW).
    4. Thomas W. Hertel & Terrie Walmsley & Ken Itakura, 2005. "Dynamic Effects Of The "New Age" Free Trade Agreement Between Japan And Singapore," World Scientific Book Chapters,in: Quantitative Methods For Assessing The Effects Of Non-Tariff Measures And Trade Facilitation, chapter 18, pages 483-523 World Scientific Publishing Co. Pte. Ltd..
    5. Ethier, Wilfred J, 1998. "The New Regionalism," Economic Journal, Royal Economic Society, vol. 108(449), pages 1149-1161, July.
    6. Jeffrey J. Schott & Barbara Oegg, 2001. "Europe and the Americas: Toward a TAFTA-South?," The World Economy, Wiley Blackwell, vol. 24(6), pages 745-759, June.
    7. Britta L³bcke & Daniel Piazolo, 1998. "Die Dynamischen Auswirkungen einer Nordatlantischená Wirtschaftsgemeinschaft (NATEC)," Homo Oeconomicus, Institute of SocioEconomics, vol. 15, pages 195-216.
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    Citations

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    Cited by:

    1. Siebert, Horst, 2005. "TAFTA - a dead horse or an attractive open club?," Kiel Working Papers 1240, Kiel Institute for the World Economy (IfW).
    2. Krebs, Oliver & Pflüger, Michael P., 2015. "How Deep Is Your Love? A Quantitative Spatial Analysis of the Transatlantic Trade Partnership," IZA Discussion Papers 9021, Institute for the Study of Labor (IZA).
    3. Gabriel Felbermayr & Mario Larch, 2013. "The Transatlantic Trade and Investment Partnership (TTIP): Potentials, Problems and Perspectives," CESifo Forum, Ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 14(2), pages 49-60, August.
    4. Langhammer, Rolf J., 2004. "China and the G-21: a new North-South divide in the WTO after Cancún?," Kiel Working Papers 1194, Kiel Institute for the World Economy (IfW).
    5. repec:taf:rjapxx:v:10:y:2005:i:3:p:339-358 is not listed on IDEAS
    6. Donny Tang, 2005. "Effects of the Regional Trading Arrangements on Trade: Evidence from the NAFTA, ANZCER and ASEAN Countries, 1989 - 2000," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 14(2), pages 241-265.
    7. Gabriel Felbermayr & Mario Larch & Lisandra Flach & Erdal Yalcin & Sebastian Benz & Finn Krüger, 2013. "Dimensionen und Effekte eines transatlantischen Freihandelsabkommens," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 66(04), pages 22-31, February.
    8. Langhammer, Rolf J., 2008. "Why a market place must not discriminate: The case against a US-EU free trade agreement," Kiel Working Papers 1407, Kiel Institute for the World Economy (IfW).

    More about this item

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission

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