Outcomes from this week’s Trade and Technology Council will be seen as positive, but second or even third best to bilateral and multilateral deals. It is time to reset our evaluation of what are the best trade policy tools.
Perspectives
Perspectives: There is no crisis of globalisation but governments might create one
The number of commentaries proclaiming the end of globalisation will probably increase. The expected difficulties of finding consensus at the WTO’s 12th ministerial conference next June will add to these arguments. Cross-border business in fact remains healthy. But uncertainty around future policy choices may have a corrosive effect.
Perspectives: A crisis and an opportunity in agricultural trade
After energy, the most exposed sector to Russia’s invasion of Ukraine is food because both countries are among the top global exporters of grains and fertiliser. While this gives further impetus to the ongoing policy debates about supply security and economic resilience in a range of countries, this crisis may …
Perspectives: Businesses lose influence in shaping EU trade agenda
Businesses are on the defensive when it comes to the EU’s trade and regulatory agendas. This situation requires rethinking from both policy makers and lobbyists.
Perspectives: India’s recent trade deals are only slightly encouraging to Europe
India’s recently announced trade deals with the United Arab Emirates and Australia have surprised those accustomed to India’s often obstructive trade policy. Their content however suggests that attitudes in New Delhi have not yet changed too much. This suggests there will be difficulties ahead for the UK – and the …
Perspectives: Borders, trade barriers and Britain’s Unfinished Brexit
There is renewed speculation that the United Kingdom will delay the introduction of full import checks on food arriving from the European Union. Seen together with the ongoing disagreement with Brussels over the Northern Ireland Protocol, this reflects the British government’s continuing difficulty to reconcile leaving the single market with …
Perspectives: Where now for EU-China relations?
This week’s EU-China summit will be dominated by discussions on Russia and Ukraine. There is also a trade dimension to the conversation, amidst increasing mistrust and fears of full economic decoupling in the future. There is a need to prepare for the possibility of the latter while still setting out …
Perspectives: There are hopes for the World Trade Organization
The recent compromise reached by the US, EU, India and South Africa over Intellectual Property and COVID-19 vaccines is neither perfect nor guaranteed to succeed but it is a reminder that agreements are possible in the World Trade Organization. Despite the remaining serious challenges to the trading system, signs of …
Perspectives – Is the UK New Zealand trade accord really a groundbreaker?
The United Kingdom and New Zealand can be considered among the countries most open to trade within a strong ruleset, and their recently released free trade agreement text unsurprisingly therefore breaks some new ground. However, with often relatively weak new provisions it isn’t a new model for inclusive trade that …
Perspectives: Withdrawing MFN from Russia at WTO is right – going further is problematic
The question of whether Russia should continue to benefit from World Trade Organization membership has moved to prominence in recent days. The rules to remove most-favoured nation treatment are clear and should be applied. But we should be cautious of going further as this would risk the WTO’s future without …
