Note: Single-source report; awaiting corroboration.
Trade is critical to global economic growth by expanding access to goods and services. This especially benefits low-income households by reducing prices on essentials such as food and clothing, thereby enhancing affordability and purchasing power, according to the OECD.
Trade-related employment is significant, involving about 8% of the workforce in the United States—roughly 12 million people. The share is even larger in other countries: approximately 20% in France, 26% in Germany, and 53% in Ireland, highlighting trade's importance for smaller, open economies.
The OECD’s METRO model maps interconnections between economies and global value chains, enabling policymakers to assess how trade, production, and policy changes affect sectors and countries. Findings suggest that coordinated reforms—reducing tariffs and non-tariff barriers—can significantly increase economic growth, improve household welfare, and raise overall well-being.
Evidence shows that multilateral and simultaneous action across key trade policy areas delivers greater benefits than isolated efforts, underlining the value of coordinated trade reform.