21 May 2020
Michael Gasiorek is Professor of Economics at the University of Sussex and Julia Magntorn Garrett is a Research Officer in Economics at the University of Sussex. Both are Fellows of the UK Trade Policy Observatory.
Suppose a country was (more or less) starting from scratch with its trade policy, and anticipated wanting to sign future trade agreements with other countries. What might you want from that country’s tariff structure? At the end of the day it is important to remember that tariffs are discriminatory taxes (i.e. they discriminate against foreign suppliers) which reduce competition, distort markets and lower national welfare. So, aiming to get to low (zero) tariffs is a good objective. But there may also be some other considerations. Here are some guidelines: (more…)
George Meredith May 21st, 2020
Posted In: UK - Non EU, UK- EU
Tags: Global Tariff, Northern Ireland, tariffs
20 May 2020
L. Alan Winters CB is Professor of Economics and Director of the Observatory, Michael Gasiorek is Professor of Economics at the University of Sussex and Julia Magntorn Garrett is a Research Officer in Economics at the University of Sussex. Both are Fellows of the UK Trade Policy Observatory.
On Tuesday 19th May the UK’s ‘Global Tariff’ was published. These are the tariffs that will apply on any products that the UK imports on a Most Favoured Nation (MFN) basis from the end of the transition period when the UK is no longer bound by the EU’s Common External Tariff. The published tariffs come after a public consultation on the subject was held in February this year.
This note summarises how the new tariff compares to the UK’s current MFN tariffs (which are also the rates that the UK has bound in the WTO for after the transition period) and outlines what has changed since the tariff consultation. (more…)
Charlotte Humma May 20th, 2020
Posted In: UK- EU
Tags: Common external tariff, Global Tariff, MFN, tariffs
7 May 2020
Dr Anna Jerzewska is an independent customs and trade consultant, and Associate Fellow of the UKTPO.
While the world battles the Covid-19 pandemic, the UK Government’s decision not to request an extension to the transition period means that the UK and the EU have only eight months until 31st December 2020 to complete the talks on the future trading relationship. If a trade deal is not agreed by 1 January 2021 the Northern Ireland Protocol will take effect. The Protocol, which forms part of the Withdrawal Agreement, determines how the Irish border will work in the absence of agreement at the end of the transition period. A Joint Committee, a body established within the Withdrawal Agreement, is charged with, amongst other things, deciding how the Protocol will be implemented. The deadline for making these decisions is therefore fast approaching. (more…)
George Meredith May 7th, 2020
Posted In: UK- EU
Tags: border checks, Northern Ireland, tariffs
1 May 2020
An international agreement on vital medical goods that keeps import restrictions low and constrains the use of export bans could help ensure all countries have sufficient supplies for the fight against Coronavirus, our new briefing paper proposes.
According to the report, which was produced in collaboration with Global Trade Alert, a global bargain where exporting nations give assurances medical supplies will not be cut off arbitrarily and importing governments agree not to re-introduce their import restrictions would remove disruption and uncertainty around the availability of life-saving goods. (more…)
George Meredith May 1st, 2020
Posted In: UK - Non EU, UK- EU
Tags: coronavirus, covid-19, Exports, Imports
28 April 2020
Ian Clarke is CEO of Excalibur Managed Services Limited and Professor Erika Szyszczak is a Fellow of UKTPO.
The COVID-19 pandemic has highlighted the importance of global supply chains and the need for robust public procurement policy and procedures. (more…)
George Meredith April 28th, 2020
Posted In: UK - Non EU, UK- EU
Tags: coronavirus, covid-19, procurement, supply chains
20 April 2020
Julia Magntorn Garrett is a Research Officer in Economics at the University of Sussex and Fellow of the UK Trade Policy Observatory.
The economic consequence of the Covid-19 outbreak is undoubtedly the most immediate worry for most businesses world-wide currently. While businesses of all sizes are affected, Small and Medium-sized Enterprises (SMEs) are particularly vulnerable given their size and often limited resources.
In the UK, the SMEs (enterprises with up to 249 employees) that are able to weather the immediate crisis still face the consequences of Brexit. While the outbreak of the virus halted several of the scheduled negotiating rounds, the UK Government is still adamant that there will not be an extension to the transition period beyond December 2020. (more…)
George Meredith April 20th, 2020
Posted In: UK- EU
16 April 2020
Peter Holmes is a Reader in Economics at the University of Sussex and Fellow of the UK Trade Policy Observatory.
At the time of writing the UK is seeing food supplies returning to normal. It is worth asking what the experience of the first three weeks of lockdown can tell us about the causes of the apparent shortages and the implications for the future.
There is a hope that now everyone’s spare rooms are full of toilet rolls and cans of beans and the supermarkets are fuller, stocks will get back to normal. But it may not be quite as simple. Are shortages just due to excessive stockpiling or real supply constraints? And if the latter how does trade fit in? (more…)
George Meredith April 15th, 2020
Posted In: UK - Non EU, UK- EU
Tags: coronavirus, covid-19, goods, supply chains
31 March 2020
Julia Magntorn Garrett is a Research Officer in Economics at the University of Sussex and Fellow of the UK Trade Policy Observatory.
On Wednesday 18 March, the UKTPO published a Briefing Paper in response to the UK Government’s consultation on the UK’s future applied Most Favoured Nation tariff.
In lieu of a public launch event, which had to be cancelled due to coronavirus, this blog outlines some excellent feedback we have already received and aims to open up the issue for further discussion. (more…)
George Meredith March 31st, 2020
Posted In: UK - Non EU, UK- EU
30 March 2020
Guest Blog by Ian Clarke, CEO of Excalibur Global Managed Services Ltd.
Following on from the previous blog by Erika Szyszczak on the new temporary adaptation of EU state aid rules in the light of the COVID-19 economic crisis, this blog discusses why the UK should take a cautionary approach to special aid being directed to the aviation sector. (more…)
George Meredith March 30th, 2020
Posted In: UK - Non EU, UK- EU
Tags: aviation, coronavirus, covid-19, State aid
27 March 2020
Erika Szyszczak is Professor Emerita at Sussex Law School and a Fellow of UKTPO.
Recent weeks have seen the rapid implementation of measures to manage and maintain EU state aid policy during the COVID-19 crisis. Some Member States, including the UK, have adopted urgent measures to ameliorate damage to their economies. During the transitional period of the Withdrawal Agreement the UK must follow EU law and therefore the responses by the UK Government to the COVID-19 fiscal and economic crisis should comply with EU rules. (more…)
George Meredith March 27th, 2020
Posted In: UK- EU
Tags: coronavirus, covid-19, EU, State aid
