TAFTA: Assuring its Compatibility with Global Free Trade (original) (raw)

This paper discusses the implications of the Transatlantic Free Trade Area (TAFTA) between the European Union and the United States, emphasizing the regional political and economic motivations amid a global backdrop of free trade. Key analyses focus on the potential quantitative effects of TAFTA based on varying degrees of liberalization in agricultural and industrial sectors, supported by a general equilibrium model. The authors caution about the uneven impacts of TAFTA, suggesting benefits for insiders but minimal losses for outsiders, and highlight the significance of comprehensive accession agreements to avoid exploitation of trade dynamics.