Trade

Farewell to the UK/US trade deal. That’s the news from Liz Truss’s trip to the UN assembly in New York. The Prime Minister has told hacks on the flight over that the UK will not strike an agreement with America for many years. The former international trade secretary suggested that talks were unlikely to even start in the medium term: ‘There isn’t currently any negotiation taking place with the US and I don’t have an expectation that those are going to start in the short to medium term.’ The comments come ahead of her first proper meeting with Joe Biden since becoming Prime Minister. The former International Trade Secretary suggested

The UK is about to publish a bill that will override parts of the Northern Ireland Protocol. We are doing this unilaterally – the EU doesn’t want us to do it, but we’re going to do it anyway. Surely that means we’re about to breach international law? It’s worth quickly going over why this is happening. The EU wanted to protect its common market, and no one wanted a border down the island of Ireland, so a trade border was placed in the Irish Sea. That has created trade friction between two constituent parts of the United Kingdom. Unionists are unhappy with that arrangement. And unhappy Unionists have led to

For European Union enthusiasts, the ‘trade deal with America’ has joined ‘£350 million pledge on a bus’ as one of the great Brexit lies. A certain amount of gloating has therefore greeted the news that Joe Biden last night ‘downplayed’ the possibility of a US-U.K. Free Trade Agreement. It’s a ‘snub’, Brexiteer hopes are dashed, and so on. But did Biden actually ‘downplay’ anything? Not really, since nobody has been seriously playing up the possibility of late. Many journalists are today talking as if the Prime Minister had been hoping to announce with Biden the trade deal Donald Trump promised Britain in 2017. But Boris has been the one minimising

Trade deals are in the air post-Brexit, but not everybody is happy. In a speech this week Frances O’Grady, the TUC General Secretary, accused the government of not taking international morality into proper account when closing such deals. She demanded the government take steps to suspend trade deals with a number of countries that, according to recent research by the TUC, had a murky record on labour standards and human rights. By failing to do this and continuing to deal with these regimes, she said, the UK would be turning its back on workers everywhere and in addition demonstrating that it could not be trusted to observe decent standards at

The basis of the UK’s first bespoke trade deal since leaving the EU was finalised with Australia over two dinners. One took place in the garden of the residence of the Australian High Commissioner to the UK, where guests were fed Australian lamb. The other in Downing Street where Welsh lamb was on the menu. They were menu choices that pointed both to what the deal would achieve – zero tariffs, including on agricultural goods – and the main point of contention in a negotiation that has spanned nearly a year since talks began last June. In that time, there has been a Cabinet row over protectionism on Australian meat imports and

The UK government has agreed its first bespoke trade deal since leaving the EU. After Boris Johnson met with Australian Prime Minister Scott Morrison on Monday night, a deal has been agreed between the two sides. The deal on the table offers tariff free trade for all British goods, enhanced access for British tech companies and ought to make it easer for Britons under the age of 35 to travel and work in Australia. As for the Cabinet row over whether an influx of Australian meat could threaten the livelihoods of UK farmers, a 15-year cap on tariff-free imports has been agreed – though the specifics are yet to be

Britain has already seen two ‘Brexit days’ — when it formally left the EU on 31 January 2020 and the end of the transition period 11 months later. But given that it has taken less than six months for the Northern Ireland protocol to unravel, it’s horribly clear that our future relationship with the EU is anything but settled. The transport of sausages and other chilled meats from Britain to Northern Irish supermarkets may seem a trivial matter. But the attempt by the EU to enforce a ban on this trade demonstrates what so many people found problematic about the idea of an internal UK border down the Irish Sea.

What happens with an Australia trade deal won’t just reveal how serious this country is about free trade but also how committed it is to helping democratic countries stand up to China. China is Australia’s largest trading partner but since Australia called for an independent inquiry into the origins of coronavirus, Australian-Chinese relations have severely deteriorated. Beijing is now trying to use this economic relationship to get Canberra to fall into line.  China has imposed huge tariffs on Australian barley and on wine for the next five years, while technical reasons have been found to bar most Australian timber and beef from the country. If in these circumstances the UK failed

The ports would reek from the smell of rotting fish. Factories would close en masse as orders got snarled up in red tape. There would be chaos at the borders as deliveries were blocked, and services would hit a wall of ‘non-tariff barriers’ that would make it impossible for British firms to sell them across Europe.  We have heard a lot over the last few weeks about how much disruption our departure from the European Union was causing for exporters, and there were lots of stories about firms that might go out of business or would have to move production to France or Poland. Membership of the single market, despite