This report from UK think tank the Institute for Government looks at why the UK government needs an agreed domestic trade regulatory approach.
The government will not be able to conclude a large number of trade agreements at speed and maintain its much-prized regulatory autonomy after Brexit. The report says prospective trading partners are likely to tell the UK to change its standards if it wants a trade deal. The importance of trade deals as a ‘prize of Brexit’ makes the UK particularly vulnerable to such pressure. But even though it is now negotiating four new trade agreements and 18 ‘rollovers’ of existing EU deals (not to mention a comprehensive agreement with the EU itself), the government still lacks a firmly agreed position on many of the issues it will face. This weakens the government’s hand in talks with its partners, and also sets it up for trouble at home. The continuing row over ‘chlorinated chicken’ highlights public concern about lowered standards. Tensions between the governments in London and Edinburgh over changes to food standards are high. At a time of mounting strain on the Union, this is situation the government can ill afford. The government has made an ‘unforced error’ in launching into complex trade negotiations before it had established a domestic regulatory approach. The new IfG report sets out how it should correct this so as to maximise the benefits and minimise the costs of its regulatory trade policy.Read Full Report
This event, hosted by UK think tank Chatham House will examine the primary arguments behind protectionism as well as their…More Info