Economics PhD candidate @UniofOxford. Researcher @CEP_LSE & @_futureofwork. Research & policy on international trade & labour.
Apr 20, 2018 • 10 tweets • 3 min read
FREE TRADE AGREEMENTS AND BREXIT (thread):
Membership of the EU Customs Union prevents countries from agreeing their own trade agreements. Instead, the EU negotiates trade agreements on behalf of its member countries, which must be ratified by each state. /1
If the UK leaves the Customs Union, it will be free to negotiate its own trade agreements.
A number of studies have estimated the gains from trade agreements with third countries. The expected effects are small relative to the fall in trade from leaving the EU. /2
