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It is entirely normal for trade agreements that provide preferential access to a market to be accompanied by rules ensuring fair competition. It is also perfectly normal for different countries to have different views on what rules are required... #Trade101
The EU may want the UK to adopt their state aid rules with the ECJ as adjudicator. They know the UK won't. The EU will probably settle for the UK adopting similar rules and usual trade agreement dispute settlement, enforceable in various ways.
The UK government is currently suggesting we need absolutely regulatory sovereignty, but that's not a realistic position for the EU or any trade partner in getting a deal. So the position will have to shift, but how far is what we will have to see.
THREAD: Hi folks, @realdonaldtrump’s tweet about soybeans today got me thinking about how much misinformation is out there about many of his recent tariffs.
Let’s take a look at the facts, shall we? Join me for #Trade101.
Let’s take a look at the facts, shall we? Join me for #Trade101.
Tariffs = a tax on a particular class of imports or exports. Commodity = a mass-produced unspecialized product — this is important because it means it can be produced ANYWHERE.
The President imposed a 25% tariff (remember - a tax) on a laundry list of Chinese products bought by Americans. China responded by doing the same to many US goods bought in China, including—you guessed it—soybeans.
