The Regional Route to Global Free Trade
With the moribund Doha Round of multilateral free-trade talks awaiting its last rites, a new wave of regional trade negotiations has de facto taken up the mantle of creating a global trade regime. But the regional strategy can work only if its components are balanced and approachable to the wider international community.
MADRID – With the moribund Doha Round of multilateral free-trade talks awaiting its last rites, a new wave of regional trade negotiations has de facto taken up the mantle of establishing a global trade regime. President Barack Obama’s administration has placed the United States at the center of this shift, embracing two major simultaneous negotiations: the Transatlantic Trade and Investment Partnership (TTIP) with the European Union; and the Trans-Pacific Partnership (TPP) with 11 countries in the Americas and Asia.
MADRID – With the moribund Doha Round of multilateral free-trade talks awaiting its last rites, a new wave of regional trade negotiations has de facto taken up the mantle of establishing a global trade regime. President Barack Obama’s administration has placed the United States at the center of this shift, embracing two major simultaneous negotiations: the Transatlantic Trade and Investment Partnership (TTIP) with the European Union; and the Trans-Pacific Partnership (TPP) with 11 countries in the Americas and Asia.