EU Governance and Trade Dynamics in the Context of Globalization Challenges

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    Abstract

    This chapter argues that European Union (EU) trade dynamics and (old and new) globalization challenges cannot be seen in isolation from their implications for the European (economic, social and environmental) model. The EU, a staunch defender of free trade and multilateralism, faces an increasingly messy international trading system and new realities that affect its external trade (environmental and geopolitical considerations, industrial policy). Its quest to promote external trade may however sit uneasily with European values, to which EU trade policy reviews pay tribute by letter, most recently enshrining the objectives of the European Green Deal. This chapter questions the EU’s unfettered defence of the European model in practice through its new generation trade agreements, which are a chief embodiment of its trade policy. Those increasingly stretch into non-traditional areas, which implies that they feed back into the European model in a way that traditional trade agreements have not, via multiple channels, including regulation (standards, also environmental and labour) or investor protection clauses. The issue whether the EU privileges trade over the European model is reflected in the difficulty to find a necessary consensus among member states to ensure the ratification of recent deep trade agreements.
    Original languageEnglish
    Title of host publicationGlobalization and EU Trade Policy at the Time of Crises
    EditorsAnnette Bongardt, Francisco Torres
    Place of PublicationCoimbra
    PublisherEdições Almedina
    Pages27-39
    ISBN (Print)9789894011637
    Publication statusPublished - 12 Apr 2023

    Keywords

    • European model; EU trade policy; new generation trade agreements; regulation; EU versus member state competences

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