Trade sentences to ponder

The IMF puts the hidden cost of trading goods inside the EU at the equivalent of a 45% tariff. For services the figure climbs to 110%, higher than Trump’s “Liberation day” tariffs on Chinese imports—measures many saw as a near-embargo.

These barriers are not direct taxes. Instead, a construction company might find its building materials or plans, though EU-compliant, still need costly national checks. A foreign university looking to set up a campus, or a care home provider wanting to expand, could face major delays getting their staff’s qualifications accepted or dealing with complex local licensing for their buildings.

Here is more from Luis Garicano.  The piece is excellent throughout.