How much trade is freed up?
The Commission published a paper at the Centre for European Policy Studies. This paper highlights the importance of multilateral cooperation as an avenue for tackling technical barriers to trade (TBTs). These non-tariff barriers are some of the most prevalent affecting global trade. While the US-China trade war and its tariff escalation were grabbing headlines, multilateral cooperation was happening behind the scenes. The World Trade Organisation (WTO) TBT Committee has spent the past decade removing EUR 80 billion worth of unnecessary trade costs affecting EU exports.