Regional trade agreements in the Americas boost liberalization, paving the way for global economic growth.
Regional trade agreements in the Americas have led to increased trade liberalization by reducing tariffs and non-tariff barriers. These agreements cover a wide geographical area and have expanded liberalization beyond just goods to include services. The findings suggest that similar agreements in Asia could promote broader liberalization, but some sectors may resist. It is important for policymakers to harmonize these agreements to avoid confusion and ensure they support overall multilateral trade efforts.