My ECIPE colleague @leemakiyama is a coauthor of this @IFTtweets paper on a future UK-Japan trade deal - which disguises some difficult truths and choices in an overall package of suggesting we can benefit from a renegotiation of the original EU-Japan deal ifreetrade.org/pdfs/IFT-A_Bet…
@leemakiyama @IFTtweets First, a systemic problem of trade agreements - a large part of the benefits come from tariff reductions on agricultural produce, given industrial tariffs are generally much lower. We aren't a huge agriculture producer, and aren't planning on high tariffs 2/ 
@leemakiyama @IFTtweets Before coming onto UK offensive interests, we have a significant problem in trade agreements in not having a lot to offer. The big exception is movement of people - which is politically difficult. But a key to at least a UK-Japan deal, as the report makes clear. 3/
@leemakiyama @IFTtweets Japan present another problem for the UK - that they wish to see in their trade agreements the investor state dispute settlement (ISDS) allowing investors to take a government to a tribunal. Japanese companies haven't used it. But this could be a precedent for the US... 4/
@leemakiyama @IFTtweets Two offensive UK interests are identified - digital trade, which seems unquestionable, if of uncertain benefit. And after an initial agreement - regulatory cooperation in terms of barriers to services. 5/
@leemakiyama @IFTtweets Free trade deals have been sold as a key benefit of Brexit - but as has been said before many times, they require the UK to offer something to get something. Neither side of this equation is well defined by government, hence the importance of this paper 6/ end
