Commentary
Customs arrangements and post-Brexit trade policy: What are the options? Theresa May’s cabinet has met this week in another of its recurring “crunch meetings” on its future position vis a vis the EU. The main bone of contention is the question of customs arrangements. Theresa May has already ruled out continuing membership of the EU’s […]
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The emergence of global value chains (GVCs) and global public goods presents an opportunity for the World Trade Organization (WTO) to play a larger role in international regulatory cooperation. This paper identifies the circumstances and modalities where the WTO is most likely to be successful. First, it assesses the circumstances in which international regulatory cooperation is best […]
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Donald Trump’s decision to repudiate the Joint Comprehensive Plan of Action agreed with Iran has not only precipitated a security crisis, it will also further ratchet up tensions in world trade. Trade is a fundamental part of the deal, for Iran, but also the European Union. In just two years, EU exports to Iran increased […]
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Originally international trade agreements were about reducing tariffs on trade in goods, but with growing globalisation and since the Tokyo Round Agreements in 1973 non-tariff issues such as standards, investment and employment rights have become equally, or more, important in negotiation both multilaterally and in regional associations.
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President Trump announced on 1 March that he would impose tariffs respectively of 25% and 10% on US imports of steel and aluminium. The backdrop to this dramatic action is of course the longstanding decline in US steel production, together with the sustained impact on world steel markets of Chinese overcapacity in the sector. The […]
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Politicians and commentators talk in general terms about the prospect of the UK’s negotiating a lot of individual trade agreements with other countries once Brexit has taken effect. Such trade agreements are commonly referred to as preferential or “free trade” agreements (FTAs). They are preferential in the sense that the countries that sign up to […]
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The theory Paul Krugman once wrote that if there were ever to be an Economists’ Creed, its first two points would be: (i) I believe in free trade and (ii) I understand the principle of comparative advantage. The latter supports the former. The theory predicts that countries are better off if they specialise in goods […]
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Model Behaviour: Understanding some recent debates on the UK’s trade prospects after Brexit. Brexit has managed to make trade modelling trendy. Perhaps that’s an exaggeration. But at least it has brought it out of the academic journals and into the broadsheets. The latest sparring has seen claims that the civil service’s trade modelling is unduly […]
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If Trade Minister François-Philippe Champagne makes New Year’s resolutions, he’s probably thinking work-wise of trying to find a new approach to implementing his progressive trade agenda. Decoupling this agenda from his trade negotiations strategy and focusing on other trading partners will open up new opportunities with better prospects for success. Canada successfully negotiated a progressive […]
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The Commonwealth Heads of Government Meeting (CHOGM 2015) in Malta on November 27-29 provides a unique opportunity for the new Liberal government to launch a comprehensive trade and development strategy as a defining feature in its commitment to re-engage in the world. Canada has proportionally more trade and development linkages with Commonwealth countries than any […]
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