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Sam Lowe
@SamuelMarcLowe
, 3 tweets, 3 min read Read on Twitter
New piece by me for @CER_EU arguing that you can’t claim to be open to services trade if you’re intent on closing the door on people.

cer.eu/insights/restr…
Some related, interesting, polling by @sophgaston on the question of which countries Brits would be willing to accept more immigration from in return for an FTA. bfpg.co.uk/wp-content/upl…

Countries with higher levels of support not really a surprise.
Note the lack of support for increased immigration from desirable future UK trade partners such as India, Indonesia, Brazil and China.

bfpg.co.uk/wp-content/upl… @sophgaston
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More from @SamuelMarcLowe see all

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Sam Lowe
@SamuelMarcLowe
We're going to be hearing a lot about "WTO Article 24" in the next few weeks, aren't we.
sad times.
A reminder to broadcasters that it is not at all relevant to the Brexit negotiations and the person using it is also probably wrong about its meaning and purpose.
Read 3 tweets
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Sam Lowe
@SamuelMarcLowe
Turkey does not unilaterally offer lower tariffs on direct imports from countries the EU has FTAs with. Until it concludes its own FTA with these countries, it applies the higher MFN rate.
Turkey does not offer a preferential tariff rate to direct imports from Canada, for example, despite the EU having an FTA with Canada, because Turkey does not have an FTA with Canada.
There is a risk that Canadian goods imported at a lower duty can enter Turkey via the EU, circumventing Turkey's higher tariff. This is a real issue, but it is not the same as the EU offering up Turkey's market as part of its negotiations (and Turkey puts in place safeguards).
Read 3 tweets
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Sam Lowe
@SamuelMarcLowe
New paper by @JohnSpringford & @COdendahl looking at EU-wide productivity by region - poses tough questions for policy makers.

Also comes with an interactive map where I can see that my home region in Wales has similar productivity to ... Malta.

cer.eu/publications/a…
Northern Ireland is particularly interesting. Essentially Denmark (Belfast) surrounded by Greece, Cyprus, Slovenia and Malta.

cer.eu/publications/a…
Also 'fun' to compare the UK and France: when it comes to disparity between different regions. Difference in productivity between regions of the UK is stark, France is more constant.

cer.eu/publications/a…
Read 3 tweets

Related threads

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Ben Shepherd
@BenShepherdEcon
1. An interesting thing about #services trade in the context of #Brexit is that we need to remember that services imports directly create jobs. Economists always like imports, but public debate focuses on jobs coming from exports. #Services are different. Let me explain why.
2. Under the GATS, when a foreign services company establishes a subsidiary in the UK and sells services to locals, that's an import of services for the UK under #Mode3. But to sell services to locals, the business needs to employ locals. So imports directly create jobs in the UK
3. Eurostat data shows that around 2.6 million service sector employees in the UK get their paychecks from foreign controlled companies. It's hard to get a break down of exactly how much of that is European, but it's far to assume that it's substantial.
Read 4 tweets
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Julie Laumann
@Otpor17
In 2012, Tim Cook announced Apple would make a Mac computer in the US.

But when Apple began making the $3000 computer in Texas, it struggled to find enough screws. By the time the computer was ready for mass production, Apple had ordered screws from China nyti.ms/2HBT2QK
Apple CEO Tim Cook: “The skill here is just incredible. In the US, you could have a meeting of tooling engineers and I’m not sure we could fill the room. In China, you could fill multiple football fields.” (h/t @scottlincicome)
"Caterpillar said costs tied to new US tariffs on foreign goods, including steel and aluminum, were just above $100 million over the 5 months of 2018 that they were in effect.

The company expects more than $200 million in tariff-related costs this year." wsj.com/articles/cater…
Read 140 tweets
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Christophe Barraud🛢
@C_Barraud
🇨🇳 #CHINA Q3 GDP Y/Y: 6.5% V 6.6%E (slowest growth since Q1 2009)
*NBS spokesman Mao Shengyong said that the international situation was bringing “downward pressure” on China.
*Link: bloom.bg/2RVX1ZA
🇫🇷 🇪🇺 🇨🇳 French tire maker Michelin warned of declining sales in Europe and #China in the second half of the year, dragging down shares of its competitors in the U.S. and Europe - Bloomberg
*Statement: bit.ly/2EujhqH
🇺🇸🇨🇳🇪🇺 In a volley of filings, the EU, #China and the U.S. this week escalated disputes over new U.S. metals tariffs, the European response to those levies, and Chinese intellectual property practices - Bloomberg
bloomberg.com/news/articles/…
Read 634 tweets
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Alec Stapp 🌎🚀
@alecstapp
1/ I have a new piece in @NRO today with @RyanLeeHagemann arguing that, given all the billion dollar fines against American tech co’s, EU tech regulation is the real trade war (h/t @sknthla for the phrasing): nationalreview.com/2018/07/europe…
2/ The $5B fine against Google last week is only the latest in a string of sanctions. That’s why @OrrinHatch called it a “revenue grab” and @RepZoeLofgren called it a “wealth transfer.” See image for list of fines:
3/ There is an apocryphal story that a journalist once asked infamous bank robber Willie Sutton why he robbed banks and his response was, “because that’s where the money is.”
Read 16 tweets
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Julie Laumann 🌎
@Otpor17
"Trump has used Harley-Davidson as an example of a US business that is being harmed by trade barriers. Yet Harley has warned consistently against tariffs, saying they would negatively impact sales"

Harley, hit by tariffs, shifts some production overseas apnews.com/6c8942f7363743…
Important issue highlighted by @riotwomennn: are tariff exemptions determined by bribes?

Corker: "22,000 companies have asked for exemptions.There is no basis to deal with them. Are they going to grant these exclusions based on political contributions?"
Trump’s trade war with the European Union is going to cost Harley-Davidson as much as $100 million a year and force the manufacturer to shift production out of the U.S. bloomberg.com/news/articles/…
Read 232 tweets
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ARC 2020
@ARC2020eu
#NEW on ARC2020: #CAP & #MFF | Eco-Spin without Public Goods Substance.
Its been 2 weeks since the MFF proposals, here's our round up of some of the perspectives so far.
All perspective-givers tagged in picture.
arc2020.eu/cap-mff-eco-sp…
What's needed?
@davidbaldock & Allan Buckwell of @IEEP_eu:
1: Sufficient funding for environmental measures in Pillar 1
2: Specifics for New Delivery Model
3: Flexibility for Pillar 1 to 2 transfers
4. Fund ANCs under Pillar 1
arc2020.eu/cap-mff-eco-sp…
#MFF #FutureofCAP #CAP
And who said: "unconditional direct income support to farmers is manifestly absurd in today’s world when it maintains uncompetitive farming practices that have negative implications for the climate, the environment or people’s health"?
Why @AnnikaAhtonen of @epc_eu
Read 8 tweets

Trending hashtags

#KOSPI #QPosts #Hungary #indicators #Durham #NEW #Turkey #Object #Homoiconicity #Brexit #Twenga #OECD #NEWZEALAND #PeoplesVote #Trade #FISA #alts #bigtech #tech #OIL #G20 #Asia #ImpeachTrump #SouthKorea #Macau
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