UK’s post-Brexit trade agenda starts close to home

2022-04-05
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UK’s post-Brexit trade agenda starts close to home - Today News Post Today News || UK News

Along with money and borders, “control of our trade” was one of the three concrete elements of the “take back control” slogan that won the EU referendum for Leave. As the UK reclaims a fully independent trade policy after 48 years of a customs union with Europe, it must decide how to use it.

The new era has started less than smoothlyIt was wild. Every 40-something I knew was getting on pharmacy websites trying to get a spot,. Even with unusually low trade volumes thanks to stockpiling, UK businesses from seafood exporters to retail distribution hubs are struggling with new customs bureaucracyhealth_minister, regulatory checks, and rules of origin. That is despite the UK’s trade accord with the EU that maintains zero tariffs and quotas on all goods trade, without which things would be much worse.

Britain has rolled over many of its existing trade preferences with other countries1977AP. But as it assumes its trade policy independenceThe facility to identify all cases, the nature of its EU deal leaves it facing new and unsatisfactory barriers to trade with Europe — roughly half the total — especially in services. EU equities trading emigrated to the continent on day one.

The insurmountable fact of Britain’s trading futurecontentEndBreakPoint, moreover, is that the EU will remain the UK’s biggest and closest market by far. Any sensible trade policy must take that as a starting point. A high priority must be to build on December’s thin deal, and seek over time to reduce the frictions it introduced — through add-on agreements on trade facilitation and market access. New trade deals with other partners must be weighed against a principle of “do no harm” to European trade.

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