Brexit: London was able to reflect almost all European trade agreements

Le Premier ministre britannique Boris Johnson avec son homologue canadien Justin Trudeau, au Sommet du G7 à Biarritz, en août 2019. 

On December 25, 2020 at 9:00 p.m.Updated 25 Dec. 10:14 at 2020

Paid, or almost. The United Kingdom will not succeed in copying all trade agreements concluded by Brussels before leaving the EU on 31 December. But it only has a dozen or more countries to cover up by bilateral agreements, to avoid losing the benefits it has enjoyed until then, thanks to agreements decided by the union.

British International Trade Minister Liz Truss, who boasts of being able to trust about 700 negotiators, snatched the “end” a few days ago. An agreement with Singapore ($ 22 billion in annual trade). Providing a European “contract” such as the elimination of customs duties by 2024, it opens up mutual access to the service markets and reduces tariffs on electronics, cars and spare parts, pharmaceuticals and medical devices, as well as renewable energy production. This is an incentive for London to join the Trans-Pacific Free Trade Agreement.

Trade covers 198 198 billion

Although the Ottawa parliament failed to approve it in a timely manner, the British signed an agreement at the end of November. ” Business Continuity With Canada (20 20 billion trade each year). It is expected to take effect on January 1, 2016, in line with the terms of the Cheetah Agreement concluded by the European Union in 2016. ” More ambitious “Next year.” This will increase UK exports to Canada from electric cars to bright wines Boris Johnson was immediately welcomed.

Their first major victory, the British negotiators won Ends with Japan in September. Agreements have also been found in recent weeks with South Korea, Israel, Iceland, Norway, Morocco, Switzerland, Kenya, South Africa, Mexico and Egypt. The other ended with Vietnam a few days ago. London must sign only with Ghana, Cameroon or Turkey.

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The work is enormous. The EU, comprising 77 countries, has a total of 44 preferential trade agreements with states or territories. Financial Times “The British government estimates that these 58 countries are covered by an equivalent trade agreement, or failed in principle by an agreement, that is, 198 billion in trade with third countries and 96% of its initial purpose.

A small agreement with the United States under study

« This is a good result, Esteem Sam Lowe, To Think Tank Center for European Reform. This is better than expected. Former International Trade Minister Liam Fox initially set a goal of reflecting all EU trade agreements in 2017 within two years, i.e. before 2019. But this goal is not realistic .

There is a big piece, which has nothing to do with the copy: signed a trade agreement with the United States. ” The arrival of Biden did not fundamentally change the game, Rated by Sam Lowe. For the newly elected president, this is not a top priority. But achieving Trump somehow is not so easy and the UK must agree to regulate its politically tricky agriculture. »

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Cory Weinberg

About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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