Transatlantic Taskforce on Trade
For much of the last two generations the benefits of international trade have been an article of faith for both Americans and Europeans. The shared belief that protectionism deepened the Great Depression and that trade liberalization rebuilt Europe after World War II motivated Americans to lead successive multilateral initiatives that dramatically lowered tariffs, resulting in an explosion in global commerce. And such faith inspired Europeans to create and then to deepen their Common Market, now the world’s largest economy.
To read the full working paper, click here.
Photo by Jim Bahn.