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 […]
