> Mario Draghi has argued that the EU's internal barriers, which are equivalent to a high tariff rate, cost more than external tariffs. He has cited IMF estimates that show these internal barriers are equivalent to a \(45\%\) tariff on manufactured goods and a \(110\%\) tariff on services. These internal market restrictions, which include regulatory hurdles and bureaucracy, hinder cross-border competition and have a significant negative impact on the EU's economy.
Source: https://iep.unibocconi.eu/europes-internal-tariffs-why-imfs-...