It has been reported that the UK looks set to follow the example of the EU in imposing tariffs on electric vehicles from China. This would be a mistake, for five main reasons. First, we have to look at the main reason why the UK is considering doing it. The EU is using its proposed […]
The UK-EU relationship must be viewed through the lens of the battle for the world’s operating system. There are three operating systems in the world. The first is a competition on the merits system where countries are free to engage in regulatory competition but inter-operate on the basis of mutual recognition and equivalence. This historically […]
Late on August 28, trade talks between Canada and the United States broke down, an escalation in the trade war that the Trump administration began with Canada in early 2025. This escalation isn’t because Canadians favour tariffs as much as the US president, but because they refuse to quietly acquiesce to American demands. It might […]
President Trump’s imposition of ‘economic D-Day’ against Iran – a series of sanctions against any nation dealing financially with Iran, as well as banks and businesses – has already been dismissed by the usual suspects whose knee jerk response is always to attack any new measures against the Tehran regime. When it comes to Iran, […]
Here’s a fun fact for you: Ireland, a country of just over 5 million people, is one of the top five largest exporters of pharmaceuticals on the planet. Ireland’s exports are estimated around 100 billion euros, with 19 of the top 20 pharmaceutical companies having a significant footprint employing roughly 50,000 people. This has translated […]
It received less media attention than many of his more eye-catching announcements, but yesterday Andy Burnham stated that under his premiership, British firms would be favoured for government contracts. While this is well meaning, outside a narrow set of circumstances such as issues relating to national security, this would be a costly mistake. First, it […]
Since Andy Burnham became the Mayor of Manchester in 2017, the term Manchesterism has taken on a new meaning. To him, it stands for the expansion of the public sector and a managerial state. Now, with Keir Starmer on the brink of resignation and Burnham’s Makerfield by-election win clearing his path to Westminster, Britain may […]
The World Cup starts today and for the first time in over 30 years it is being held in North America. Not only is this exciting news for football fans, it should also be of interest to free trade enthusiasts, as the last time it was held there the North American Free Trade Agreement (NAFTA) […]
The first rule of Labour’s EU Club appears to be that ‘you do not talk about rejoining the EU’. Indeed, Andy Burnham’s and Wes Streeting’s not-very-principled position on Brexit seems to be that they want the UK to rejoin the EU but do not want to be too open about this until after either of […]
With trade flows being disrupted by war in the Middle East, the weaponisation of trade in raw materials, unilateral tariff impositions and nationalist subsidy programmes and procurement practices, it may seem naïve to complain that international trade rules as set by the WTO are not being followed. Globalisation, we are told, is yesterday’s story. Regrettably, […]
In the year we celebrate the 250th anniversary of Adam Smith, we must also celebrate the idea that the wealth of nations and the free, fair exchange of goods and services are intricately connected. This idea is what made Britain one of the wealthiest countries in the world and – with one in three pounds […]
The Government’s approach to the UK’s steel industry has always looked like a cross between inveterate, unshakeable optimism and the panicked thrashings of a drowning man clutching for a flotation aid. An extremely charitable observer would argue that the Government had always had a very clear aim: to preserve Britain’s steel industry in order to […]
When it comes to the global trading system, there is an ongoing battle between two competing models. The first sees regulatory competition with equivalence and mutual recognition as far as regulations are concerned. That’s the classic system embodied by the likes of the United States, the World Trade Organisation and the Comprehensive and Progressive Agreement […]
Donald Trump’s ‘Liberation Day’ tariffs, which have caused havoc and uncertainty in global markets, are now finally having their day in court. On November 5, the US Supreme Court began hearing oral arguments in two consolidated cases, Learning Resources, Inc. v. Trump and Trump v. V.O.S. Selections. The Trump Administration will defend its reciprocal tariff […]
Effective trade policy is built on one thing above all: a sound grasp of competitive advantage in overseas markets. Understand this, and a country can feel its way towards export-driven prosperity. Ignore it, and trade policy is flying blind – and so is industrial policy. The UK has been free to craft its own trade […]
More than 800 million people have been lifted out of extreme poverty over recent decades – not through wealth redistribution, but through access. Access to trade, to capital, to technology and to opportunity. That’s what open markets enabled. Imperfect, yes – but transformational nonetheless. And Britain – as the birthplace of modern free trade – […]
The EU is in the news for all the wrong reasons, and not just because of the bloc’s new tariff deal with Donald Trump. Italian coffee giant Lavazza, a company that has built its reputation on quality and sustainability, has called for yet another delay to the EU’s deforestation regulations (EUDR), It isn’t alone: Mondelez […]
To say that there’s a lot happening in the world of international trade right now would be something of an understatement. Since Donald Trump’s ‘Liberation Day’ threatened to impose sweeping tariffs on all US trading partners, a flurry of deals have emerged. The reason is that most deals we’ve seen in recent months have been […]
Exports face stiff headwinds, supply chains are shifting and Britain’s position as a trading nation is being tested. One growth engine stands strong, with opportunities for those ready to seize them: digital trade. As E-Commerce Export Week begins, it highlights how even the smallest UK maker or retailer can reach Boston, Berlin or Bangkok with […]
Now that a little time has been allowed to digest what Keir Starmer’s EU ‘reset’ actually means, it has to be said it is looking far less impressive than when it was first being spun – and far more costly than the Government’s supporters care to admit. What are we meant to be getting from […]
If we are to believe all the ballyhoo surrounding Keir Starmer’s recent ‘trade deals’ with the US, India and the EU, anyone could be forgiven for believing the Prime Minister has solved our economic future by taking a couple of long-haul flights and welcoming Ursula von der Leyen to a jolly in London. Sadly, the […]
If someone had given me a crystal ball six months ago and said that Donald Trump was going to unleash ‘Liberation Day’ on the world, I would have predicted catastrophe. A return to the protectionism of the 1930s would be disastrous for the global economy. But in a rather unexpected twist, that has not materialised: […]
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