The European Economic Community of 1992 and its Effects on the United States

Abstract

The European Single Market Act of 1992 is a symbolic goal for the integration of twelve member nations, including France, West Germany, Greece, the United Kingdom and eight others. The removal of trade barriers and the standardization of many products will make considerable impacts on countries around the world. As a result of the 1992 program, economic power will shift. This shift will be accompanied by many social and political changes. We will notice that the greater uniformity in laws and regulation will present opportunities and pose threats to the external environment, including the United States. The United States and its corporations must now determine what effects a Single European Market will have on this country and how they might best compete in the European environment. The purpose of this thesis is to present some possible effects of the European Economic Community on the United States of America and two of its sectors.