International trade can no longer be seen as an end in itself, with no regard to its adverse impacts on climate, biodiversity and human rights. Europe is the world’s largest exporter of manufactured goods and services and the biggest export market for around 80 countries. In 2022, the European Union’s members account for 16% of world imports and exports .

With its market of 500 million consumers, the EU has a significant role to play to mitigate the adverse impacts of its own consumption in third countries. It is urgent to act on this lever in the context of accelerating ecological and climatic crises.

The Veblen Institute has analyzed 13 symbolic votes in the European Parliament during the 2019-2024 term on subjects relating to mirror measures, trade agreements and investment protection agreements.

Current trade rules contribute to the development of an unsustainable economic model and act as a brake on ecological and social transition by reducing states’ room for manoeuvre in many areas. The next European cycle should make the need to reform EU trade policy in the service of ecological and social transition a priority.

The Institute formulates proposals on 5 key areas for reform:

• Acting on production processes and methods that are harmful to health, the environment and human rights by introducing mirror measures on imports.
• Put an end to the exportation of products prohibited within the EU.
• End investment protection through investment arbitration.
• Evolve towards ecologically and socially sustainable forms of partnership with third countries
• Put the reform of WTO rules back at the heart of the debate