“Informe Elcano 26. European trade policy in a changing international environment”, Enrique Feás and Federico Steinberg (Elcano, Spain)

Both the nature of international trade and its governance have changed a lot in recent years. International exchanges are increasingly structured in value chains while services trade is gaining prominence. At the same time, the arrival of Donald Trump to the White House, his trade wars and the attitude of an increasingly assertive China, is eroding leaps and bounds the multilateral frameworks of international trade governance and opening the door to commercial and technological wars. In this new context, the EU is forced to redefine its commercial strategy and improve its tools to compensate and empower the losers of openness in order to increase the legitimacy of liberalization.

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