So here's the main problem - Ministers (in the UK, but this is also a global problem) talk of wanting both free trade and regulatory sovereignty. And in the 21st century they conflict, and you have to trade-off between them. Which they don't want to say.
Developed countries, and increasingly others, have regulations on virtually all products and services. Absolute regulatory sovereignty - these have to be done our way or else - would massively reduce trade. And does in those countries which get close to this.
The alternative - no regulatory sovereignty, where you just accept the rules, products, services of others - puts you in the direction of the most free trade. But as you see with countries trying to do US free trade deals - just accepting US food rules isn't too popular.
So every country tries to balance trade with regulatory sovereignty, within the limits of agreements to which they are a party, which impose plenty of limitations. And that's what the UK hasn't done - gone from abstract 'free trade' 'regulatory sovcereignty' to definition.
The EU has free trade and for individual countries, a loss of regulatory independence. Brexit will lead to regaining some regulatory power at some cost to free trade. Simple fact. But try getting the lead Brexit supporters and writers to admit that.
Watch the language carefully - a US free trade deal, accepting their regulations, is deemed free trade. An EU trade deal, accepting their regulations, is not treating the UK as an independent country. In fact both are the same - accept rules to get preference in the markets.
So do we trade off UK sovereignty on state aid to get an EU trade deal? Or UK sovereignty on food or technical standards to get a US trade deal? Those are the choices we have to make. Can't keep pretending we can have free trade and pure regulatory sovereignty. /end
PS also obviously applies to UK exports - we want regulatory certainty in e.g Scotch, lamb, cars etc in order to know we can sell them to other markets. Hence why trade agreements are really all about the rules. So choose your priorities carefully, is it the US, EU, or others?
