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A small step forward for free trade

Posted by Eliot Weinstein on April 30, 2007

US and EU agree to a “single market”

This is a meeting of minds between United States and European officials with much potential for improving the lives of ordinary citizens (e.g., more airline competition brings cheaper fares). Admittedly, the gains from removing commercial restrictions and harmonizing regulations would be far greater if developing nations were included as well. Perhaps closer cooperation on these issues will improve the chances of US and EU agricultural policy reform, which would resurrect world trade negotiations.

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