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Jonathan Portes assesses the extent to which predictions about trade and migration before the Brexit vote have materialised, highlighting that trade has been reduced by additional barriers but the extent to which liberalisation would increase migration flows in the short term was underestimated.
So far, in the first two months of Brexit, the following industries have indicated that they have been harmed: Aerospace; Airlines; Architecture; Art and Antiques; Beer; Bees; Cattle and horse breeding; Charities; Cheese; Chemicals; Cars; Classic Cars; Construction; Cosmetics and Perfume; e-Commerce; Fabrics; Fashion; Ferry services; Film and TV production; Financial Services; ...
The UK’s post-European Union (EU) membership trade negotiations mean that Brexit is anything but the finished article.
There is an obvious flaw in advocating Brexit on the basis that it’s less costly than the worst pandemic the world has faced in a hundred years. But this aside, the claim Covid-19 is a bigger economic shock than Brexit deserves further interrogation.
'It is hard to predict how full Brexit would play out, because this scale of multiple simultaneous renegotiations of global trade agreements is unprecedented – and no country has ever left the EU. It certainly can’t be assumed that Britain is bound to get quick and good deals because it is a large economy.'
If not, and the vote is to exit, it will be no good saying afterwards that “we didn’t understand what we were voting for” – the repeated complaint made by eurosceptics about the 1975 Referendum. By then it will be too late.
A 19th Century trade agenda will decimate the most productive parts of the 21st Century economy.
The biggest crisis of Brexit to date actually still lies ahead of us in late 2020.
Putting politics aside, let us look at a more technical aspect of free trade negotiations – rules of origin (ROO).
Following the unveiling of the African Continental Free Trade Agreement in Kigali, Rwanda, in March 2018, Africa is about to become the world’s largest free trade area: 55 countries merging into a single market of 1.2 billion people with a combined GDP of $2.5 trillion. In this edition, we examine the benefits and challenges of a free trade area for countries and individual traders.
While Boris Johnson, the likely successor to British Prime Minister Theresa May, takes his country down a path of diminished trade, the European Union is negotiating one of the largest free-trade agreements in the world. One really has to wonder what the "buccaneering" Brexiteers have to complain about.
A transatlantic network of conservative think tanks accidentally published its secret plans to influence US-UK ... Documents outline plans to form an “unprecedented” coalition of hard-Brexit and libertarian think tanks, which will call for Britain to ditch strict EU safety standards – including rules on food and pharmaceuticals – in order to secure a sweeping US-UK trade deal.