Trade and trade policy after Brexit
International trade plays a crucial role in fostering economic growth across a wide range of industries at the national and the regional level. The prospects for UK’s international trade are closely tied to the future relationship between the UK and the EU. Voters are being offered a wide spectrum of choices, ranging from continued membership to the EU, a customs union-type relationship by the Labour party, a looser arrangement under a free trade agreement with the governing Conservative party, and a clean break with trade on WTO terms with the Brexit party. In this Briefing we discuss the UK’s current trading position and the prospects for trade in light of the menu of options discussed above.