Economics, Econometrics and Finance
3 years ago

EU Trade Liberalization Saves Consumers €60 Billion Annually in Tariffs.

SSRN Electronic Journal
Consumer Benefits From EU Trade Liberalization: How Much Did We Save Since the Uruguay Round?
Lucian Cernat, Daphne Gerard, Oscar Guinea, Lorenzo Isella

Paper Summary

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Trade liberalization in the EU has saved households around 60 billion euros annually due to reduced tariffs on imports. This study used detailed data to calculate the amount consumers have saved over the past two decades from multilateral and bilateral trade agreements.