Trade Knowledge Exchange > Trade Partnerships > UK Partnerships with Non EU Countries

UK Partnerships with Non EU Countries

Around 55% of the UK’s merchandise exports go outside the EU.  The figure is higher for services: around 60-65%.  Once the UK leaves the EU, it is likely that it will be able to define its own trade policy vis a vis the rest of the world. So what are the issues?

At present, trade relationships between the UK and the rest of the world are managed through the EU’s common commercial policy. The policy has defined the UK’s trade regime vis a vis the rest of the world, through WTO commitments, through regional agreements conclude by the EU, and through unilateral preference schemes implemented by the EU.

On leaving the EU, the UK will exit the EU’s common commercial policy. It will then face a number of choices and challenges. In particular:

  • How will it finalise its position at the WTO by extricating its commitments for the EU, particularly in areas such as agriculture subsidies and tariff-rate quotas, and in aspects of services trade?
  • Should it continue to apply MFN tariffs it has inherited from the EU, or should it liberalise further? If so, should it do so unilaterally, on a non-discriminatory basis, or reciprocally, through free trade agreements?
  • On services, where the UK, like many others, applies significantly lower levels of restrictions than are reflected in its WTO commitments, similar questions apply.
  • What should the UK’s approach to trade preferences be?
  • How should it establish priorities given limits to institutional capacity

These issues are not solely the UK’s. The EU itself will need to finalise its new schedules of commitments at the WTO. More broadly, the EU will also need to define its approach to trade policy, and this without the input of one its strongest liberalising influences.

The articles in this section assess these issues from a variety of perspectives, and provide a starting point for developing a new template for the UK’s trade policy.

International trade in goods, Trade services, Professional services brexit, brexit professional services, brexit network, trade expertise, trade expertise network, Trade knowledge, trade knowedge exchange, trade compliance, trade tools, barriers to international trade, effects of tariffs, brexit trade, brexit trade deals, post brexit trade deals, post-brexit trade deals, brexit trade, brexit trade deals, trade after brexit, brexit trade agreements, brexit analysis, trade analysis,

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Commentary

Come up Trumps? The implications of a UK-US free trade agreement

    International trade in goods, Trade services, Professional services brexit, brexit professional services, brexit network, trade expertise, trade expertise network, Trade knowledge, trade knowedge exchange, trade compliance, trade tools, barriers to international trade, effects of tariffs, brexit trade, brexit trade deals, post brexit trade deals, post-brexit trade deals, brexit trade, brexit trade deals, trade after brexit, brexit trade agreements, brexit analysis, trade analysis,

    President Trump’s state visit has once again brought the question of a UK-US Free Trade Agreement (FTA) back into the headlines. The US administration has on previous occasions expressed its readiness to begin negotiations with the UK. And in early 2019, the US Trade Representative’s office released its negotiating objectives. The breadth and depth of […]

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    Commentary

    Planning for No Deal: The UK’s temporary tariff proposals

      With the UK parliament showing little sign of resolving its differences of opinion with itself on the UK’s departure from the EU, the UK government has published a list of customs duties that would apply “temporarily” in the event of a “no-deal“ exit. The government says that under such arrangements 87% of imports to the […]

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      Commentary

      Counting our chickens: US negotiating objectives and UK trade policy

        International trade in goods, Trade services, Professional services brexit, brexit professional services, brexit network, trade expertise, trade expertise network, Trade knowledge, trade knowedge exchange, trade compliance, trade tools, barriers to international trade, effects of tariffs, brexit trade, brexit trade deals, post brexit trade deals, post-brexit trade deals, brexit trade, brexit trade deals, trade after brexit, brexit trade agreements, brexit analysis, trade analysis,

        The United States Trade Representative (USTR) has released negotiating objectives for a prospective Free Trade Agreement (FTA) with the UK. The publication of such objectives is a routine event before the US enters into any trade negotiations. But it made headlines in the UK, which has little or no direct experience of trade negotiations. The […]

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        Commentary

        The Other “No Deal”: Brexit and FTAs with non-EU countries

          Political debate in the UK has been dominated in the last few months by the issue of the “Irish Backstop”.  Division over the issue has prevented parliamentary ratification of the Withdrawal Agreement negotiated by the UK Government and the EU.  The impact of the UK leaving the EU  on a “no deal” basis – i.e. […]

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          Commentary

          Can CARIFORUM-UK Trading Relations Survive the Clouds of Uncertainty Hanging over UK-EU Relations?

            Brexit negotiations between the UK and the EU create a “policy externality”. That is, their outcome will have effects on third parties that have no direct say in the negotiations. The scope for these externalities increases the more these parties are dependent on the UK and EU for their trade, and the bigger the share […]

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            Commentary

            The UK-EU Withdrawal Agreement and Political Declaration on Future Arrangements: Five Key Points for UK Trade Policy.

              The EU flag and the UK flag. Post-Brexit Trade.

              In perhaps the most significant development since the UK voted to leave the European Union in June 2016, negotiators representing the UK and the EU member states have struck an agreement on the terms of the UK’s withdrawal from EU membership. Accompanying that draft Withdrawal Agreement is a draft Political Declaration that provides a framework […]

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              Knowledge

              An interactive trade policy simulator for the UK

                One of the objectives the UK has set for itself on leaving the European Union is to conclude Free Trade Agreements (FTA) with its major trade partners.   The White Paper on future arrangements between the UK and the European Union (EU) proposes a free trade agreement (FTA) between both parties. It also sets specifically mentions […]

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