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An analysis of the trade policy review of the European Union

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  • Karen Jackson

Abstract

This paper provides an analysis of the latest World Trade Organisation Trade Policy Review of the European Union. The review period was one of heightened trade tensions, where the dynamic between China–US–EU dominated the policy agenda. A number of key findings emerge from the review, broader literature and events after the review period: (i) much remains to be negotiated as part of Brexit, (ii) there has been a change of approach whereby trade and investment agreements tend to be separate; this has important implications for the speed of implementation, (iii) strategic oversight regarding extra‐EU investment inflows hinges on national screening mechanisms, (iv) rival infrastructure development schemes are emerging, suggesting that the EU will struggle to create space for their own initiative, (v) free trade agreements are increasingly covering a broader range of issues such as labour rights and environmental protection and (vi) digitisation and a tax schedule for digital services is still work in progress. Overall, the review is an extremely useful reference document. However, a critical assessment of the factual information is necessary.

Suggested Citation

  • Karen Jackson, 2021. "An analysis of the trade policy review of the European Union," The World Economy, Wiley Blackwell, vol. 44(12), pages 3482-3491, December.
    • Handle: RePEc:bla:worlde:v:44:y:2021:i:12:p:3482-3491
    DOI: 10.1111/twec.13213
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    References listed on IDEAS

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    1. Lachlan Mckenzie & Katharina L. Meissner, 2017. "Human Rights Conditionality in European Union Trade Negotiations: the Case of the EU–Singapore FTA," Journal of Common Market Studies, Wiley Blackwell, vol. 55(4), pages 832-849, July.
    2. Richard Pomfret, 2021. "‘Regionalism’ and the global trade system," The World Economy, Wiley Blackwell, vol. 44(9), pages 2496-2514, September.
    3. Jackson, Karen & Shepotylo, Oleksandr, 2021. "Belt and road: The China dream?," China Economic Review, Elsevier, vol. 67(C).
    4. de Soyres, François & Mulabdic, Alen & Murray, Siobhan & Rocha, Nadia & Ruta, Michele, 2019. "How much will the Belt and Road Initiative reduce trade costs?," International Economics, Elsevier, vol. 159(C), pages 151-164.
    5. Karen Jackson & Oleksandr Shepotylo, 2021. "An examination of EU trade disintegration scenarios," The World Economy, Wiley Blackwell, vol. 44(1), pages 2-20, January.
    6. Benjamin Martill & Uta Staiger, 2021. "Negotiating Brexit: The Cultural Sources of British Hard Bargaining," Journal of Common Market Studies, Wiley Blackwell, vol. 59(2), pages 261-277, March.
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