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This morning's Brexit news is scarcely a barrel of laughs, starting with the news that Japan are upset with the UK's trade negotiations approach. Not surprising, after all foreigners do follow the UK, and who did Liam Fox blame for the failure to roll over trade deals?
That's right, foreigners, not taking no-deal seriously. In truth, most major negotiating partners have been complaining for some time that the UK side have not understood trade negotiations, that we can't have everything we want. 2/
Which brings us to Australia, who have been increasingly clear that the UK cannot immediately negotiate entrance to the CPTPP (Trans Pacific Partnership) but a quickie trade deal is ok of Australia are the main beneficiaries 3/
Meanwhile tariffs, set this week? Rumour has it Fox and Treasury back zero tariffs, likely for different reasons. The former because he does believe in lower tariffs, the latter as this will stop DIT making trade deals (same motivation as Customs Union) 4/ thetimes.co.uk/edition/news/m…
The problem with tariffs policy is that it is politically controversial - lower them on goods we produce, producers complain, lower them on food we don't produce, developing countries suffer and we have less to offer in trade deals 5/
Since Treasury don't think the economy will gain much from trade deals they are quite happy to let the EU set them in a Customs Union, or if not reduce them to zero. Coherent if crude, Fox's approach seems simply incoherent given his trade agreement needs 6/
A small story from the Guardian on EU electrical safety standards, a demand to maintain them. On this occasion the US is not to blame, their electrical safety standards are some way superior to those in the UK or EU 7/ theguardian.com/money/2019/feb…
Then the final, overarching, bad news Brexit story, Politico squashing the weekend's good news stories, reporting that EU leaders think the PM is fundamentally misjudging their desire to move on the backstop at the last minute. A useful corrective 8/ politico.eu/article/theres…
And once again the fundamental category error - this isn't an internal EU summit up against a mostly artificial deadline, it is an external negotiation, and the EU does not change red lines at the last minute in those. Ever. 9/
All of which is to say, welcome to the real world. It would be asking a lot for a competent Government to handle all of these demands, but perhaps a competent government would be self-aware of limitations. This one isn't even competent enough for that. 10/ end
