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: […]
The decision by US Court of International Trade to block Donald Trump’s tariffs, declared by the President under International Emergency Economic Powers Act (IEEPA), comes as a relief after the weeks of uncertainty and policy reversals that followed the ‘Liberation Day’ on April 2. It also shows that, while businesses had good reasons to be rattled […]
The ‘EU reset’ proposal has undermined British control over its trade and regulatory autonomy. While the Prime Minister calls this agreement pragmatic – hoping it will boost the UK economy by £9 billion per year by 2040 – its terms tie the UK to EU rules across critical policy areas, from food safety to fisheries, […]
It has been an important week for the UK. It can now count a hat trick of firsts since leaving the EU in the execution of its independent trade policy. First accession country to the CPTPP. First major country to have a trade deal with India (negotiated in three years), and now first country to […]
Under Donald Trump’s mass tariffs scheme, the UK is one of a number of countries on the minimum rate of 10% (along with Australia, Singapore, Brazil, Argentina, UAE, Egypt and others). Much of the world economy is on much higher tariff rates. The EU rate is 20%. Vietnam’s is 46%. China’s is 54%. The fact […]
The siren calls for retaliation against the US if Donald Trump imposes new tariffs on the UK remind me of this exchange from ‘Braveheart’… Longshanks: Archers! English Commander: I beg pardon, sire. Won’t we hit our own troops? Longshanks: Yes… but we’ll hit theirs as well. The serious point here is that tariffs hurt people […]
It was the early 2000s. The Y2K panic had been replaced by hope for the new century. The TV show ‘Friends’ was in its prime. The skinny jeans era was on the horizon. A pesky retailer scoured the world, trying to bring the cheapest branded trousers to its customers, wielding a Nokia 3310 and fuelled […]
President Donald Trump addressed his Russian counterpart Vladimir Putin via social media last week, calling on him to settle now and stop the war in Ukraine or face increased sanctions. However, as the experience of his predecessor shows, this may be easier said than done. Can Trump deliver more effective sanctions than Joe Biden, and […]
Watch or listen to CapX’s weekly podcast ‘The Capitalist’ wherever you get your podcasts.
