Europe rightly tries to shape the rules of world trade

Rem Korteweg is quite right to argue in a new and important paper, published by the Centre for European Reform, that Europe should push to revive and complete the EU-US trade deal known as the Transatlantic Trade and Investment Partnership. The main prize here is not primarily more trade, but for trade to be shaped in ways that spread the benefits equitably — including in such important areas as workers’ rights, consumer rights and environmental protection. In this regard, Korteweg is exactly right that a system of investment courts is unattractive and the EU should just drop its pursuit of them.