trade policy

UK 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.

Negotiating the UK’s post-Brexit trade arrangements

This paper considers the agenda for UK trade negotiations over the post-Brexit period. There are several groups of countries that will need to be dealt with and we consider the priorities among them. Negotiations with the WTO and the EU are the most important and the most pressing in time, and should be pursued simultaneously. On the former, the UK must try quickly to establish its independent WTO status, which will be greatly facilitated by minimising the changes it proposes to its tariffs schedules.