Market Access Issues in European Community and United States Relations: Trading Partners or Trading Blows? (Chatham House Papers)
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Beschreibung
In recent years transatlantic trade tensions have grown. The United States has viewed the EC as creating a fortress, while Europe has looked on with increasing alarm at what it sees as a progressive shift from multilateralism towards unilateralism in the US. These tensions have been exacerbated by conflicts over how to develop the multilateral trading system - as reflected in the heated negotiations between the US and the EC in the GATT Uruguay Round. This study analyzes the underlying issues behind such trade disputes. Rather than focusing on specific trade conflict, it discusses how open the two markets really are and what problems need to be overcome. It finds that, despite the bitter political battle, transatlantic economic interdependence continues to grow. Drawing on a number of key sectors, it shows how the pace of this interdependence is being slowed by the lack of progress in policy-making, in terms of establishing the framework within which trade and investment should take place. There is therefore a danger of divergences developing that would threaten the future growth of transatlantic trade and investment.
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