20. Fagiolo G, Squartini T, Garlaschelli D. Zero models of economic networks: the case of the global commercial network. J Econ Int Coordinat. (2013) 8:75-107. doi: 10.1007/s11403-012-0104-7 Most studies focus on the income channel and try to reconcile the impact of trade on well-being by studying the amount of wages to be bought, using as a reference the evolution of prices of a fixed basket. As we can see, until World War II, the majority of commercial transactions were trade between this small group of rich countries. But this has changed rapidly in recent decades and today trade between non-rich countries is as important as trade between rich countries. The announcement by the current US administration of the review of the country`s trade policy and the negotiation of ”new and better agreements” through SAAs [1] has revived the debate on the impact of such agreements and on the underlying interests and strategies. In recent years, SAAs have become an increasingly important political instrument and often used to establish and intensify close trade relations. In these agreements, countries grant each other trade privileges in the form of concessions on trade barriers, including the reduction of tariffs and quotas, as well as the facilitation of market access and competition rules. The theory suggests that the removal of trade barriers increases trade between the economies concerned, which stimulates economic growth in the contracting countries [2].

Empirical studies conducted so far – in particular using so-called gravitational models – largely confirm a positive effect of BTAs on trade [3-6]. However, they also indicate that this could be at the expense of offshoring production from more efficient suppliers to other countries [3, 6, 7]. Thus, BTAs can improve some trade relations while weakening others that are not directly covered by the agreement. As a result, BTAs can change the structure of the international trade network, which consists of input-output interconnections between national economic sectors. There is evidence that the effectiveness of the BTF in improving trade between the Contracting Parties depends on the specific characteristics of the countries concerned. In this context, it has been proposed that geographical proximity, common linguistic and/or cultural origin or a similar GDP are beneficial for increasing trade profits [8-11]. Economic union is an even more economically integrated regime. Economic unions remove internal barriers, take up common external barriers, allow the free movement of resources (for example.

B labour) AND adopt a common economic policy. The best known example of economic union is the European Union (EU). Eu Member States all use the same currency, pursue monetary policy and act among themselves without paying customs duties. The Judgment of the Court of Justice clarified that sustainable development is one of the EU`s exclusive areas of competence in trade; However, it has also strengthened the role of national parliaments in the areas of external trade, where Member States retain common competences, namely in the settlement of disputes relating to non-direct investment and investment. Sustainable development is now an integral part of the EU`s common commercial policy. Important environmental issues and labour standards are therefore no longer a grey area. In an area that is essential for the European model, the EU has exclusive negotiating competence, provided that signatories respect their international obligations in terms of social protection of workers and environmental protection.18 The ECJ will still have to decide whether the EU`s dispute settlement system in international trade – the investment court system – is legal.19 This can be accommodated. that the EU does not take due account of the impact. international trade on the European model is even more problematic at a time when populists have opposed the EU project.

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