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Australian Government advice to its exporters to the European Union, in the absence of a free trade agreement...

- import tariffs (WTO terms)
- quotas
- summary declarations
- CE marks
- phytosanitary certificates

austrade.gov.au/Australian/Exp…
Australia-EU wine agreement not tariffs, mainly on Geographical indicators - limited applicability to UK: ec.europa.eu/commission/pre…
and the EU-Oz Mutual Recognition Agreement that allow Australian authorities to certify products reach EU standards and vice versa: eeas.europa.eu/sites/eeas/fil…
Obviously Australia has no free trade deal with the EU, but its pattern of trade with the EU not even similar to that of the UK:

Australia-EU two way trade is 12.8% of total Australia trade.

UK-EU two way trade is 49% of total UK trade.

1/3
Top 3 exports Aus to EU 2018 🇦🇺- 🇪🇺

1. Coal 👷🏼
2. Gold 💰
3. Oil seeds and oleaginous 🍈

Top 3 exports UK to EU 🇬🇧-🇪🇺

1. Road vehicles 🚗
2. Petrol ⛽️
3. Medicines 💊

2/3
In Services in 2018:

Australia had a deficit* with the EU of A$11bn (£6bn)
UK had a surplus with the EU of £30bn

*this could change from now ex UK
To take the example of UK number one goods export to the EU - road vehicles.

Australia has no exports of cars to the EU.

In fact it has no exports of cars.

In fact it has no production of cars at all.

(via @tEconomics )

d3fy651gv2fhd3.cloudfront.net/embed/?s=austr…
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Faisal Islam
@faisalislam
rather interesting:

Govt says in statement it “worked hard” to get Tesla Gigafactory for UK last year, in statement re Manchester site.

When Elon Musk chose Berlin in November, he said Brexit made it “too risky”:

manchestereveningnews.co.uk/news/greater-m…
At the time, many played down idea UK under active consideration vs Berlin, but sources in the NW now saying the Manchester site, in Heywood, got down to last two...

Local council leaders not happy with central Government... but Musk is an investor Govt would dearly love...
All of this is consistent with the idea that Berlin was still the main option, maybe UK used to stress test the plan, but no one acknowledged that the Government was actively facilitating Tesla searching for a factory option in UK...
Read 4 tweets
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Faisal Islam
@faisalislam
Nissan Europe boss said today he assumes UK-EU “will find an agreement that meets the needs of the [Sunderland] factory”, but reiterates that without one eg with the introduction of 10% [WTO terms] tariffs, business model of Nissan Europe is “not viable”. boursorama.com/actualite-econ…
More De Ficchy:

“We would not be viable..we just wouldn’t be able to sell our cars.”

raised possibility UK models moved to Renault plants, but acknowledged costly and take years... said “working hypothesis is to stay in Europe with a factory in England”. europe.autonews.com/automakers/nis…
The thrust of his words seem to be that WTO tariffs of 10% on UK exports to EU would lead to a strategic decision about Nissan’s entire presence in Europe... nothing on a pivot to a UK only import substitution model, where a fifth of UK sales would be Nissans...
Read 7 tweets
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Faisal Islam
@faisalislam
Former Italian trade minister tells BBC that Italy should suspend Schengen to help halt spread of Coronavirus...
European airlines taking a battering on stock markets amid coronavirus fears
✈️

EasyJet down 17%
IAG (BA owners) down 9%
Lufthansa down 8%
Ryanair down 13.5%
Air France/ KLM down 9%
TUI down 10%
Carnival down 7%

Then its the miners, dependent on Chinese raw material demand

Anglo down 9%
Glencore down 6%
Rio down 6%

And retailers/ manufacturers dependent on Asian supply chains

JD Sports down 6%
Adidas down 6%
Read 3 tweets

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Doc Rock
@chbstone2
1. The #WTO World Trade Organization, established during the #Clintons Presidency 1994

Sacrificing our Sovereignty, marching USA into the #NewWorldOrder

Approved by the likes of @senatemajldr / @SpeakerPelosi

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2. The #USMCA

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No

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#Congress is supposed to be responsible for immigration, right?

SURPRISE!

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Julie Laumann
@Otpor17
In 2012, Tim Cook announced Apple would make a Mac computer in the US.

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Flick Ruby
@FlickRubicon
What has @wikileaks has taught and shown us about the negotiation of secret #trade​ ​agreements? A thread. Add information you've found to be in the public interest that whistleblowers have trusted to the #WikiLeaks archive. #WikiLeaksIsAPublisher #Assange #SubstanceOverSmea​r
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Penny Midas Rollo
@PennyMidasRollo
001/ [article content in this tweet series 001-180 reproduced with permission from Martin Howe QC of Lawyers for Britain @lawyers4britain]
#quote "Leaving the EU on WTO terms: pulling down the barriers to world trade
Introduction: why prices will FALL after Brexit, not rise" /002
002/ #quote "Over the past couple of weeks, the media have been full of lurid scare stories about what will happen if the UK leaves the EU on WTO terms, because negotiations with the EU do not result in a withdrawal agreement." /003
#tariffs #NoDeal #Brexit #WTO #ProjectFear #shortages #food #medicines
003/ #quote "One of the most ridiculous and UNJUSTIFIED of these absurd scare stories is that it will lead to higher prices, and even shortages, of foods and medicines." /004
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Millennial Macro
@MillennialMacro
#demographics #militaries #economies #currencies
#USA
- Best demographics
- Largest military
- Largest economy
- Most used currency
- Liquid financial markets
- Open capital account
- Rule of law
- Best geography
- Can be self sufficient if required
- Not trade dependent
#USA
Top trade partners as of 30 June 2018:
- China: 15.2% (strategic competitor)
- Canada: 15.1%
- Mexico: 14.6%
- Japan: 5.1%
- Germany: 4.4%

The next 10 years could result in the below:
- Mexico (25%)
- Canada (20%
- Japan (7%)
- South Korea (5%)
- Great Britain (4%)
#USA
Bring the manufacturing (jobs) home while negatively impacting China's economy.
forbes.com/sites/kenrapoz…
cebglobal.com/talentdaily/au…
irishtimes.com/business/econo…
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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?"
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Read 232 tweets

Trending hashtags

#LeaveHQ #Smartphone #demographics #GDP #Apple #TPP #tariffs #India #TLT #Trade #IMF #agri #shortages #defense #external #Michigan #FedEx #geopolitics #beef #levy #iPhones #trade #Tariffs #discrimination #IndependenceDay

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