In the sphere of trade preferences, The EAs have largely amounted to a ratification of the status quo reached between the EU and the CEECs following prior trade liberalization by both sets of partners. It is widely accepted that this cautious approach reflected fears of large adjustment costs among EU members. The paper examines the CEEC-EU trade pattern over 1990-93, finding no evidence in support of these fears. Detailed regional-level calculations of likely job displacements for France corroborate the findings from aggregate trade flows.