This seminar is part of the "Europe and the Global Economy" series.
The Trans-Atlantic Trade and Investment Partnership (TTIP), if successful, will eliminate trade barriers between the US and the EU, both of which already have free trade agreements with many other countries, including several that are in FTAs with both (Canada, Korea, Mexico to name just a few). Is TTIP therefore achieving true free trade with this larger group? No. Restrictive rules of origin apply, and these can potentially interfere with trade and reduce welfare even when compared to a world without any of these FTAs.
Alan V. Deardorff is John W. Sweetland Professor of International Economics and Professor of Economics and Public Policy, University of Michigan. With a Ph.D. in economics from Cornell University, he has been on the faculty at the University of Michigan since 1970, where he has served as Chair of Economics and now Associate Dean of the Gerald R. Ford School of Public Policy. His research has included both contributions to the theory of international trade and, with Robert M. Stern, development of the Michigan Model of World Production of Trade, used for analysis of multi-country, multi-sector changes in trade policy.