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The EU’s Defence Technological and Industrial Base (EDTIB) has been a key focus of EU policy efforts in recent years, not just for security reasons, but also for economic ones. There have been a host of funds to strengthen and reinforce the EDTIB, and to ensure deeper cooperation, avoid duplication and underscore the interoperability of equipment. These funding streams have not been fully evaluated, but they are important symbols of the energy and commitment with which the EU has attempted to create ...

Since its establishment in 1995, the World Trade Organization (WTO) has embodied the multilateral trading system. Despite successes in some areas, including the effective settlement of numerous trade disputes and the conclusion of new multilateral trade agreements, the WTO currently faces serious challenges to its legitimacy and its effective functioning. Of particular concern is the US blockage of new appointments to the WTO’s Appellate Body (AB), which fulfils a key role in the WTO dispute settlement ...

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

US President Donald Trump has pushed ahead in recent months with his controversial policies on trade and defence, which critics say could undermine the global rules-based order and create new uncertainties. The European Union's trade spat with the US eased somewhat following a meeting of European Commission President Jean-Claude Juncker with Trump in July. However, the NATO summit earlier that month and Trump's subsequent meeting with Russian President Vladimir Putin did little to reassure the EU ...

The escalating trade conflict between the United States and other countries and regions, such as China and the European Union, coupled with a capricious outcome of the recent summit of the world’s seven most industrialised economies (G7) have raised a question mark over the US’s continued commitment to the stability of the post-Cold War, rules-based international economic and political order. The row, which is already affecting stock and bond markets, started when US President Donald Trump imposed ...

Just three decades after the fall of the Berlin Wall signifying the end of Cold War aggression and the ascendancy of international liberalism, the world faces even greater uncertainty. In every region of the world, geopolitical shifts are taking place that have brought offensive trade agendas to the fore. The US has withdrawn from underwriting the post-World War Two international economic and foreign policy architecture, instead proposing to build a wall between itself and neighbouring Mexico, imposing ...

The EU Market Access Strategy (MAS) and associated Market Access Partnership (MAP) is a EU trade policy operational instrument designed to identify and remove market access restrictions confronting EU firms in third country export markets. Since the 2008 financial crisis, there has been a steady increase in the number of trade restricting measures imposed by EU trading partners. The MAS is a key tool through which the EU seeks to work with third countries to prevent, remove and reduce market access ...

Trade liberalisation is generally expected to bring net welfare gains to the domestic economy by reallocating resources to more productive firms or to industries with a comparative advantage. However, these gains are not always distributed evenly and can involve transitional costs for certain firms and workers. Trade adjustment measures are designed to compensate for these costs. The literature proposes mainly active labour policies (including training and other measures for re-employment) for dealing ...

Globalisation is nothing new; it is centuries old and has always contributed significantly to boosting growth and creating employment. It goes beyond the mere circulation of commercial goods, and more recently services, as it is a way to exchange ideas, spur discovery and innovation, and increase competitiveness. However, for some, globalisation is synonymous with unfair trade practices, job losses and the offshoring of firms, and there has recently been a backlash, culminating in the failure of ...

With the publication of the "Global Trendometer" the EPRS Global Trends Unit seeks to contribute to the process of identifying and addressing medium- and long-term trends, and their possible implications for policy-making in the European Union. In this latest edition, three essays and seven two-page vignettes on different geopolitical, economic, technological and social issues paint a broad-ranging picture of some developments that may shape Europe’s future.