The authors analyze the economic consequences of the Economic and Trade Agreement (ETA) between China and the USA, also … referred to as the Phase-I Deal, which was signed on January 15, 2020. It is a highly asymmetric treaty which commits China to … baseline. The authors show that compared to a 2021 benchmark without a US-China trade war and without the ETA, the EU is likely …

returned to the global stage. Meanwhile the World Trade Organization (WTO) is facing an existential crisis due to a deadlock in … policies. However, there is no alternative to WTO reform, given that the economic balance in the world has changed - while the … enforcement and dispute settlement mechanism. The EU can act as an 'honest broker' between the USA and China. Establishing an …