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Business Travel, a Driver of International Trade Hindered by Immigration Restrictions

Immigration restrictions, particularly visa policies, greatly hinder these movements, increasing costs for companies and limiting their competitiveness in foreign markets. For Schengen Area member countries, visas reduce trade by 25%, and even more for differentiated goods. In contrast, the facilitation of business visas included in free-trade agreements, even when these provisions are not subject to a dispute resolution mechanism, leads to an increase in business travel and, consequently, an average growth of 15% in bilateral trade, all without increasing permanent migration.

Le blog du CEPII

July 17, 2025

Rise in American Protectionism: A Certainty Amid Trade Chaos
Antoine Bouët, Houssein Guimbard
Regardless of future US decisions, a return to the preexisting global trade order seems unlikely: trade with the United States is bound to become more expensive and more difficult.

Le blog du CEPII

July 1, 2025

Transatlantic Tariff Negotiation: "Positive versus Negative" List Strategy for the European Union
Antoine Bouët, Lionel Fontagné, Houssein Guimbard, Pauline Wibaux, Yu Zheng
How can Europe identify the threat of trade retaliation that allows it to establish the strongest negotiating position in dealing with the United States in merchandise trade alone?

Le blog du CEPII

June 16, 2025

The fixed exchange rate regime exacerbates deindustrialization
Carl Grekou, Valérie Mignon
Premature deindustrialization in most emerging and developing economies has been one of the defining trends of recent decades. The adoption of a fixed exchange regime by low-productivity countries particularly accelerates this phenomenon.

Le blog du CEPII

June 2, 2025

China's share in European countries’ imports: the source matters !
Pierre Cotterlaz
The importance of China in the imports of European countries varies significantly from one source to another, because of methodological differences in recording the country of origin of imports.

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LE Graphique – THE Chart

Transatlantic Tariff Negotiation: "Positive versus Negative" List Strategy for the European Union

How can Europe identify the threat of trade retaliation that allows it to establish the strongest negotiating position in dealing with the United States in merchandise trade alone? Read on the Blog.

EU-US trade dashboard

While the United States are intensifying tariff measures, find the main data on trade between the European Union and the United States on our new dashboard: bilateral trade balance, composition of trade in goods and services, trade exposures by sector, trade protection, dependencies, as well as our main publications on the topic. >>

Analysis and debates

Does Immigration Affect Native Wages?
A Meta-Analysis

The impact of immigration on native workers’ wages has been a long-standing debate in labour and international economics. This meta-analysis synthesises findings from 88 studies published between 1985 and 2023, providing a comprehensive assessment of reduced-form estimates of the wage effect of immigration. The results align with the existing literature, showing that the average wage effect is centered around zero, with substantial heterogeneity across studies. The authors highlight the critical role of contexts and methodological choices in shaping wage estimates. In particular, they find that shift-share instrumental variables correct for an upward bias of the OLS. The findings emphasise the need for replication studies and greater transparency in methodological choices. Continue reading >>

Comment le commerce international a façonné l’empreinte carbone de la France

Protectionnisme américain : les enjeux du 9 juillet 2025

L’approvisionnement russe de produits duals face aux sanctions

Outsourcing Decarbonization? How Trade Shaped France’s Carbon Footprint (2000–14)

Carbon Bias of Tariffs: Are Fossil fuels the Culprits?

Does Immigration Affect Native Wages? A Meta-Analysis

Quelle stratégie pour l’Union européenne face au protectionnisme américain ?

Working Around Sanctions. What Cost to Russia?

Trump 2.0 Tariffs: What Cost for the World Economy?

Health Products in International Trade: a Full-Fledged Industry Grouping

CEPII Region Profiles: indicators, databases and classifications

CEPII Country Profiles: indicators, databases and classifications

Presentation of the CEPII's annual publication "The World Economy 2026"
September 10, 2025

Conférence en hommage à Michel Aglietta
October 1, 2025

The economic consequences of Mr. Trump's second "first hundred days"
July 9, 2025

CEPII Research Seminar "Unilateral Carbon Pricing and Heterogenous Firms"
July 3, 2025

CEPII Workshop "The economics of migrations"
July 2, 2025

The 3rd Junior Workshop on The Economics of Migration
June 23 - 24, 2025

Séminaire compétitivité CEPII-Banque de France "L'industrie de défense, entre perspectives haussières et défis de croissance"
June 10, 2025

The CEPII research seminar "North Korea's China Shock"
May 22, 2025