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UK leaving little time for much-needed trade analysis with June deadline on EU talks

Posted by Warwick Business School at 27 February 2020, 17:19 CET |
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Nigel Driffield, Professor of International Business at Warwick Business School, said:

"The normal way to approach trade talks is to start by asking for access to the others market, and then conceding just enough to get what you want, after doing an analysis of how domestic producers (or sometimes other trade partners) will be affected.

"In other words, trade deals are done to find a way of maximising total gains from trade, and then working out a way of sharing those benefits.

"When the UK last did trade policy, we did detailed cost benefit analysis of where we expected to gain, and where we expected to lose. Setting a deadline of June for significant progress leaves little time for that detailed analysis and complex negotiations.

"It is all very well pointing to the impact that technological advances such as 3D printing will have on supply chains and international trade. That may be the case for some products in 10 years, but it is unlikely to help key British manufacturers such as JLR and Aston Martin in January next year."

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