Challenges to the Leadership Position of the European Union in World Trade

Abstract

The aim of the article is to determine whether the EU is a world trading power and what the challenges are for maintaining its position in the future. The applied methodology includes: statistical data analysis, descriptive analysis, comparative analysis, SWOT analysis, induction and deduction. The result shows that the EU is a strong trading power globally and that it uses that both for economic benefits and to influence its trading partners in areas as social rights and sustainable development. It depends on the EU's cooperation with key partners, as well as on linking trade policy to the new challenges.