While global trade talks have been making very little progress in recent years, the number of preferential trade agreements (PTAs) has grown rapidly, and many of these institutions are reaching much deeper into the domestic political arena than traditional multilateral trade liberalization....

Preferential trade agreements (PTAs) constitute the most rapidly growing form of trade liberalization in the global economy. In contrast to, for example, the World Trade Organization, PTAs allow for discrimination among potential partner countries. This helps explain their proliferation. But it...