How the ‘Brussels Effect’ Helps the EU Rule the World

Where Europe leads, others follow — at least when it comes to the rules of commerce. Why? Because the alternative could be too costly. Companies selling into multiple markets want a one-size-fits-all approach to regulation and products, perhaps even more so in a world grappling with the Coronavirus, and that is effectively giving the European Union an edge in setting standards far beyond its borders. Even Brexit-bound Britain and trailblazing California are feeling the Brussels Effect.