Attempts to foster trade liberalisation with a new generation of trade agreements aimed at lowering non-tariff barriers face opposition among the general public. Many fear that trade liberalisation risks lowering the level of protection embedded in regulations that are aimed at safeguarding social rights, health and the environment.

Ensuring accountability in modern trade policy
IW-Report
German Economic Institute (IW)
Attempts to foster trade liberalisation with a new generation of trade agreements aimed at lowering non-tariff barriers face opposition among the general public. Many fear that trade liberalisation risks lowering the level of protection embedded in regulations that are aimed at safeguarding social rights, health and the environment.
Such criticism cannot be ignored. As we argue in this paper, by clarifying its view on this issue, the EU can further strengthen the position in fora like the G7 and the G20 where the topic of trade is currently under discussion. But along which lines? Regulatory cooperation, in the context of the new generation of trade agreements, is promising, reasonable and controllable. If done correctly, regulatory cooperation will benefit consumers and not threaten consumer protection. However, a regulatory cooperation body needs transparency and a set of rules to be fully accountable to EU citizens.
Looking at the way the same issue was dealt with in the context of monetary policy and independent central banks, we propose a mix of provisions that aim at defining a clear mandate, enforcing transparency of operations and establishing a reputation.

Jürgen Matthes / Ilaria Maselli: Ensuring accountability in modern trade policy
IW-Report
German Economic Institute (IW)
More on the topic

Where does the money from the EU budget go?: Net contributors and net recipients in the EU
Germany's net position in 2022 is slightly down on the previous year, from €21.4 billion to €19.7 billion euros, but it is still significantly higher than in the pre-Brexit period. On average for 2014 to 2020, the last Multiannual Financial Framework, it was ...
IW
Single Market Emergency Instrument: A Tool with Pitfalls
In reaction to disruptions of the Single Market, the European Commission put forward an emergency instrument. It proposes far-reaching measures in order to maintain the proper functioning of the Single Market and ensure the supply and distribution of goods and ...
IW