Europe 1992: The External Trade Implications

Abstract

This paper examines the external dimension of the completion of the European internal market ("Europe-1992"). It starts with a short review of the relevant tools from customs union theory, which are used to evalutate the effect of the 1992, programme on third countries (in particular, the United States) under the assumption of unchanged trade policy. The paper then assesses the possibility of changes in EC external trade policy after 1992. It suggests that existing GATT rules and the current Uruguay Round of multilateral trade negotiations impose constraints on changes in the external trade policy of the Community. Finally, the paper argues in favor of internal and external liberalization in the Community. [F15]

^*An earlier version of this paper was presented at the Colloquium on "The European Integration of 1992, and Its Implications for the United States," held at the University of Pennsylvania and Rutgers University, November 15 and 16, 1990.

^*An earlier version of this paper was presented at the Colloquium on "The European Integration of 1992, and Its Implications for the United States," held at the University of Pennsylvania and Rutgers University, November 15 and 16, 1990.

Notes

^*An earlier version of this paper was presented at the Colloquium on "The European Integration of 1992, and Its Implications for the United States," held at the University of Pennsylvania and Rutgers University, November 15 and 16, 1990.