European Union Adapting to an Era of No Ruling Trade Paradigm

Abstract

Since the end of the Second World War, the ruling paradigm pertaining to international trade policy has been ‘fostering liberalization of trade and economic integration.’ The paradigm evolved through a convergence of a variety of different forces and has been a constant for approximately seventy years. The European Union (EU) is very much a product of the acceptance of the paradigm. The institutional arrangements of the EU have elements that foster achievement of the paradigm’s goals. In the last few years, however, acceptance of the paradigm may be waning. The inability to make substantial progress in the World Trade Organization’s Doha Round is one indication. The EU itself is facing issues in ratifying certain aspects which the Commission negotiated at the bilateral level. Additionally, the deep trade agenda interferes in domestic politics. A question remains regarding how the EU has and will change its trade policy strategy in order to successfully achieve its international agenda for issues that have become more and more important for the EU societies.