The Brexit debate has given rise to many bewildered discussions about the apparent difficulties of negotiating trade agreements. After all, as at least one commentator said, if we can put a man on the moon, surely the UK can negotiate a few trade agreements? Of course. Compared to putting a person on the moon, many things seem easy. But the complexity of negotiating trade is not to be underestimated either. To illustrate why this is so challenging, just consider the following example of orange juice.
TPP: Plan B if the United States Can't Get the Agreement Ratified
So what happens if the Trans-Pacific Partnership (TPP) trade agreement is not approved by the United States Congress? In short, the TPP as it currently stands dies. The damage to US interests is much greater than simply the loss of years of work putting together a complex agreement with a network of committed partners spanning the Pacific. The United States will lose credibility and forfeit global leadership in designing future trade and economic arrangements.
Business Must Remain Engaged and Vocal on Trade
Trade and Globalisation: Experience From the First Hour of My Day
Trade does not just benefit the “1%.” It is not just for people who own stocks. Trade does not affect just the people who work in places that directly export to foreign countries. International trade matters to everyone, probably every single hour of every day. Take just the first hour of my day, for instance.
Special Edition: The European Union in the Post-Brexit Period
Even if the EU had been able to create and maintain a common trade position prior to Brexit, the loss/partial loss of the UK within the Union will make it difficult for the EU to continue with business as usual for at least a short period of time. The uncertainties surrounding the departure of the second largest market within the EU means that EU negotiators have to reconsider their own market positions in nearly every single sector.