2018JOURNAL OF EUROPEAN ECONOMYOpen access

THE EU FOREIGN TRADE IN GOODS AND SERVICES AND THE NEW PROTECTIONIST POLICY OF THE US

Evangelos Siskos, Konstantia Darvidov

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Abstract

About 2/3 of the EU trade is the intra-EU trade, but the extra-EU trade pro­vides additional demand for the European products and is a source of necessary supplies. It is especially important for some products and services. Despite a de­creasing trend, the US continues to be an important trade partner for the EU. But prospects for transatlantic integration turned into rise of protectionism, which wor­ries the EU politicians. In the paper we assess the fiscal and protectionist role of tariffs for the EU-US bilateral trade and the determinants of the US imports.

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About 2/3 of the EU trade is the intra-EU trade, but the extra-EU trade pro­vides additional demand for the European products and is a source of necessary supplies. It is especially important for some products and services. Despite a de­creasing trend, the US continues to be an important trade partner for the EU. But prospects for transatlantic integration turned into rise of protectionism, which wor­ries the EU politicians. In the paper we assess the fiscal and protectionist role of tariffs for the EU-US bilateral trade and the determinants of the US imports.

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Available abstract

About 2/3 of the EU trade is the intra-EU trade, but the extra-EU trade pro­vides additional demand for the European products and is a source of necessary supplies. It is especially important for some products and services. Despite a de­creasing trend, the US continues to be an important trade partner for the EU. But prospects for transatlantic integration turned into rise of protectionism, which wor­ries the EU politicians. In the paper we assess the fiscal and protectionist role of tariffs for the EU-US bilateral trade and the determinants of the US imports.

Key concepts: Protectionism, International trade, International economics, Commercial policy, Economics, European union, Trade barrier, Economic integration

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