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1/ There's nothing inherently 'global' about leaving the EU, and doing so on WTO terms does not in and of itself represent a more 'world-focused approach' than doing so with a transition period and withdrawal deal.
2/ Brexit will provide the UK with greater autonomy over its own trade policy settings, and these COULD be adjusted to favor trade with more distant partners.
However, trade policy is complex and there are always winners and (very vocal) losers. Very few free shots on goal.
However, trade policy is complex and there are always winners and (very vocal) losers. Very few free shots on goal.
3/ "Global Britain" is a nice phrase, but over a year into the debate it seems critical to move beyond slogans and platitudes to ask the specific questions.
Let's take the US, for example.
Let's take the US, for example.
4/ What is the UK currently struggling to sell to the US, or import from it, because of policies in the EU?
What are those policies, what are they trying to accomplish and will the UK be comfortable with their abolition, or significant alteration, to promote UK-US trade?
What are those policies, what are they trying to accomplish and will the UK be comfortable with their abolition, or significant alteration, to promote UK-US trade?
5/ What is the UK currently struggling to sell to the US, or import from it, because of US policies?
What is the likelihood a US-UK FTA could address such policies?
How politically sensitive are such policies, and what might the US seek in return for addressing them?
What is the likelihood a US-UK FTA could address such policies?
How politically sensitive are such policies, and what might the US seek in return for addressing them?
6/ Are there significant policy barriers to US investment in the UK or vice versa?
Why are those policy barriers in place? Are they looking to mitigate certain risks?
Are the parties likely to be comfortable accepting greater risk thresholds to increase investment flows?
Why are those policy barriers in place? Are they looking to mitigate certain risks?
Are the parties likely to be comfortable accepting greater risk thresholds to increase investment flows?
7/ Where are the areas where the UK is currently most protectionist?
These will largely determine where the greatest gains for potential FTA partners will be.
Hint: It's agriculture and worker temporary entry (Mode 4 Services).
These will largely determine where the greatest gains for potential FTA partners will be.
Hint: It's agriculture and worker temporary entry (Mode 4 Services).
8/ To what extent is the UK willing to accept liberalization in these sectors in exchange for reciprocal concessions from FTA partners in areas of UK interest?
Note: These sectors may not line up. Greater export access in financial services doesn't help farmers make ends meet.
Note: These sectors may not line up. Greater export access in financial services doesn't help farmers make ends meet.
9/ These aren't 'gotcha' questions, and there may be great answers.
However, immediately following Brexit (especially in the event of a No-Deal) the pressure on the government to quickly start FTA negotiations will be immense... and slogans alone won't cut it. /end
However, immediately following Brexit (especially in the event of a No-Deal) the pressure on the government to quickly start FTA negotiations will be immense... and slogans alone won't cut it. /end
