tariffs

Better than the status quo for Northern Ireland? Not quite so simple

24 October 2019 Michael Gasiorek is Professor of Economics at the University of Sussex and a Fellow of the UK Trade Policy Observatory. There has been some discussion that the unique arrangements outlined in the Protocol on Northern Ireland within the Withdrawal Agreement between the UK and the EU mean that Northern Ireland may get the best of both worlds – tariff-free access to both the EU Single Market and the UK market. This is because Northern Ireland will remain in the UK’s customs territory, however, for trade between Northern Ireland and the EU (and therefore the Republic of Ireland) the EU’s Union Customs Code will apply, with no tariffs or other restrictions. Northern Ireland will also remain within the EU’s single market for agriculture and manufactured goods. The aim of this blog is to think through this carefully. […]

By Nick Phipps|2019-10-24T16:56:46+01:0024 October 2019|UK - Non EU, UK- EU|4 Comments

The UK’s ‘No Deal’ Tariffs: An Update

16 October 2019 Julia Magntorn Garrett is a Research Officer in Economics at the University of Sussex and Fellow of the UK Trade Policy Observatory. In March 2019, Theresa May’s Government published a set of ‘No deal’ tariffs, designed to apply for up to 12 months in the event that the UK left the EU without a deal. The UKTPO described them in a blog and a Briefing Paper. On October 8, the new Government published an updated ‘No deal’ tariff schedule. This blog outlines the main changes, and recalculates various statistics, on the basis of the new tariff proposal. […]

By Nick Phipps|2019-10-16T11:05:01+01:0016 October 2019|UK - Non EU, UK- EU|0 Comments

Free ports—preparing to trade post-Brexit

26 September 2019 Dr Peter Holmes is Reader in Economics at the University of Sussex, Director of Interanalysis and Fellow of the UK Trade Policy Observatory. Interview by Kate Beaumont. This article was first published on Lexis®PSL Commercial on 5 September 2019. How will the establishment of free ports enable the UK to benefit from Brexit trade opportunities? Dr Peter Holmes, reader in economics at the University of Sussex, considers the pros and cons of these special ports where normal tax and customs rules do not apply. […]

By Nick Phipps|2019-09-26T12:04:19+01:0026 September 2019|UK - Non EU, UK- EU|11 Comments

Mimicking President Trump? – Trade and Politics in Japan’s Recent Export Measure

5 September 2019 Guest blog by Professor Yong-Shik Lee is Director and Professorial Fellow of the Law and Development Institute and Hiram H. Lesar Distinguished Visiting Professor in Law, Southern Illinois University School of Law. In the last eighteen months, President Trump has re-introduced the use of national security arguments to restrict the USA’s international trade for commercial reasons. I recently warned[1] that the US use of security arguments to justify its additional tariffs on steel and aluminum imports would create a dangerous precedent, and shortly after that, another major trading nation has indeed followed this precedent. […]

By Nick Phipps|2019-09-05T09:29:36+01:005 September 2019|UK - Non EU|2 Comments

Hiccups that make us reel

15 July 2019 Dr Michael Gasiorek is a Senior Lecturer in 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. A favourite band (of at least one of the authors of this blog) from the 1980s was the Cocteau Twins (See, or rather listen to…Sugar Hiccup) – well-known for the dreamy unintelligibility of their lyrics. Which of course leads to the dreamy unintelligibility of some of the promises being made around Brexit. Supporters of Brexit have argued that the UK need not be overly concerned with a ‘No deal’ Brexit. This ranges from positions that ‘No deal’ would not be “as frightening as people think” although there would be “some hiccups in the first year” (David Davies), and that although there may be “some disruption” Britain would “survive and prosper without a deal” (Jeremy Hunt), to arguments that the idea that ‘No deal’ would have a negative impact were “a fantasy of fevered minds” (Jacob Rees Mogg). […]

By Nick Phipps|2019-07-15T08:36:26+01:0015 July 2019|UK- EU|0 Comments

Trump and Mexico: Why the UK should care

07 June 2019 Julia Magntorn Garrett is a Research Officer in Economics at the University of Sussex and a fellow of the UK Trade Policy Observatory. On Thursday last week (May 30) President Donald Trump threatened to levy tariffs on all US imports from Mexico. The UK should take note, as this has implications not only for Mexico, but for the UK as well. […]

By Nick Phipps|2019-06-07T08:50:38+01:007 June 2019|UK - Non EU|1 Comment

Indicative votes – the economics behind the options

3 April 2019 Dr Michael Gasiorek is a Senior Lecturer in Economics at the University of Sussex and a fellow of the UK Trade Policy Observatory. L. Alan Winters CB is Professor of Economics and Director of the Observatory. Understandably the politics surrounding the UK’s exit from the EU are dominating current discussions. But the economics of the options still matter, and it is not always evident how well the core economic issues are understood. In the light of the Government’s ‘approach’ to Labour to find a consensus and in the light of the indicative votes, the aim of this blog is to clearly outline the economic issues and summarise the likely consequences associated with two of the current (indicative) options. […]

By Nick Phipps|2019-04-03T11:31:50+01:003 April 2019|UK - Non EU, UK- EU|1 Comment

What should we make of the UK’s ‘No Deal’ tariffs?

14 March 2019 Dr Michael Gasiorek is a Senior Lecturer in 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. L. Alan Winters CB is Professor of Economics and Director of the UK Trade Policy Observatory. Key points: Around 72% of UK’s MFN tariff lines will see reduced protection. The UK’s average MFN tariff is reduced significantly, from around 7.7% to 0.7%; however this does little to increase the share of duty-free imports. The UK’s MFN tariff proposal will reduce tariffs on many products imported from countries currently trading on WTO terms, but increase them on imports from the EU. Following the first defeat of the Withdrawal Bill in Parliament, and prior to yesterday’s vote on a ‘No Deal’ alternative, the Government published the temporary tariff schedule it proposes to apply in the event of a no deal. As with most things Brexit, this is complicated to unpick, especially as some of the listed items are simply asterisked, and the details on these need to be found in another (1400 page) document! […]

By Nick Phipps|2019-03-14T14:59:27+00:0014 March 2019|UK - Non EU, UK- EU|7 Comments

Tariff Woes

12 March 2019 Julia Magntorn Garrett is a Research Officer in Economics at the University of Sussex and a fellow of the UK Trade Policy Observatory and L. Alan Winters CB is Professor of Economics and Director of the UK Trade Policy Observatory. Tariffs are the simplest and most direct of the tools of trade policy: they are taxes on imports. Broadly speaking, high tariffs help to shelter domestic industries from international competition, whereas lower tariffs increase competition and benefit consumers through both lower prices and permitting a wider variety of products to choose from. Despite saying that taking back control of its trade policy is imperative and that the UK may have its own trade policy in under three weeks (30th March), the Government has yet to reveal its policy for UK tariffs. The Financial Times recently reported that the plan was to eliminate the majority of industrial tariffs and, in the same vein, Sky News reported on the Government’s intention to cut 80-90% of all tariffs to zero. Many business owners are anxiously awaiting further information, as they may have only a matter of weeks to adjust to changes that could seriously affect their business. […]

By Nick Phipps|2019-03-12T14:21:59+00:0012 March 2019|UK- EU|2 Comments

The Real Donald Trump: A Free Trader in Protectionist Clothing or Vice Versa?

7 November 2018 Rodney D. Ludema is a Professor of Economics, with a joint appointment in the School of Foreign Service and the Department of Economics at Georgetown University, Washington D.C. (See bio below) As the fifth meeting of the U.S. and U.K. Trade and Investment Working Group takes place this week in Washington, hope for an eventual U.S.-U.K. trade deal is on the rise, thanks to the White House’s recent notification to Congress of its intent to launch formal negotiations. This new optimism is astonishing in light of Trump’s protectionist moves of the past year and raises questions about the direction of U.S. trade policy more generally. Should Trump’s free trade overtures be taken seriously? Do they represent a change in strategy or even a change in tactics? How ambitious should we expect a U.S.-U.K. trade deal to be? To answer these questions, it is helpful to understand Trump’s motivations and the policy environment in which his policies are being developed. Such is the goal of this essay. […]

By Rod Ludema|2025-04-09T13:01:57+01:007 November 2018|Blog, UK - Non EU|1 Comment

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