EU-UK POST-BREXIT Trade Relations: Prosperity Versus Sovereignty?

Abstract

Politicians on all sides failed to engage in serious debate about trade policy in the referendum. The ensuing debates on the implementation of Brexit lacked clarity on trade policy, processes, and the implications of these for business, consumers and the ability to negotiate new deals. The UK Government has only been consistent in its ability to frequently change its trade policy demands. The meaning of Single Market, Free Trade Agreement, Customs Union etc were widely misunderstood. Mrs May tried to preserve ‘Frictionless trade’ . More recently the ability to ‘strike new trade deals’ has become the most advertised ‘gain’ from Brexit. But the argument has focussed entirely on the ability to exercise sovereignty. Economic costs, including the impact of Coronavirus Disease (COVID) and its implications for trade rules, are hardly discussed on the UK side but the EU has also taken a fairly principled stand. We are not in a position to predict the final outcome but would argue that if there were to be no deal it would not be an accident but rather a logical consequence of the British view emphasizing sovereignty above all else. Trade- Trade policy-Regulation, Sovereignty, Brexit- European Union , Negotiations