Non-Tariff Measures in EU-US Trade and Investment – An Economic Analysis

Abstract

Study on the existence of nontariff measures (NTMs) and regulatory divergence at the sector level on trade and investment between the European Union and the United States, the magnitude of these divergences (as tariff equivalents) estimated with gravity approach and the potential economic impact of a reduction or harmonisation of these measures. The estimation of the NTM tariff equivalents is based on parametric gravity modelling and the welfare impacts were calculated with a CGE model. Based on the results, NTMs create high trade barriers in various sectors and any reductions in these measures could have large, positive economic impacts although with varying sectoral results.

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