Assessing proposals for a transatlantic free trade area
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.
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- 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..
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- Hertel, Thomas W. & Terrie Walmsley & Ken Itakura, 2001. "Dynamic Effects of the "New Age" Free Trade Agreement between Japan and Singapore," GTAP Working Papers 823, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
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- 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).
- 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.
- 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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