Priorities for UK Trade Liberalization

May 8, 2020

As the UK develops its trade policy outside of the EU, it would be a mistake to base its future approach on the one it inherits from the EU.

There are several priorities for UK trade liberalisation. Rolling over existing EU deals with third countries may be fast and convenient, however many of them don’t fit the specific interests of the British economy. There are significant opportunities for Britain to forge a different approach. There are three areas where this approach could be particularly beneficial: Adopting a unilateral tariff liberalisation approach – ideally eventually to all, but certainly immediately with the poorer countries in the world; using “Concerted open plurilateralism” to forge trade alliances with groups of like minded countries; and renegotiating existing trade agreements – starting with the EU-Japan EPA.