Multilateral cooperation behind the trade war headlines: How much trade is freed up?
Non-tariff barriers are some of the most prevalent affecting global trade. The World Trade Organisation (WTO) has spent the past decade removing EUR 80 billion worth of unnecessary trade costs affecting EU exports. On 9 February, the Commission published a paper at the Centre for European Policy Studies that highlights the importance of multilateral cooperation as an avenue for tackling technical barriers to trade (TBTs). While the US-China trade war and its tariff escalation was grabbing headlines, multilateral cooperation was happening behind the scenes. This paper advocates the need for a renewed multilateral impetus in addressing TBT concerns as part of our post-Covid global recovery.