Securing Trade Deals: Matters of Longer Term National Interests or Short Term Economic Interests?

Abstract

When could matters of mere economic interests be considered to be damaging to matters of national interests and national security? Why is it necessary to ensure that trade-offs in the realization of economic gains do not unintentionally impede overall economic benefits, and more importantly, longer term gains to be derived? Is it in the longer term interest of the economy to subordinate vital policy matters relating to national interests and security or are these aspects so intricately linked - such that national interests also encompass, or rather imply a compromise of national security measures and standards? Domestic policy matters it may appear, could be justified, where these assume precedence over foreign policy matters – particularly in respect of trade , and more specifically, protectionist stances – and particularly as a means of regaining a more competitive, balanced and fair playing field where it is considered that trade partners have exploited many policies and gained considerable competitive advantages particularly in matters relating to patents, copyrights and intellectual property. This is increasingly evident in the current spheres and environment of ever thriving emerging technologies where particularly less advanced economies or corporations with less bargaining powers, require greater protection through the implementation of rules designed to facilitate anti competitive practices whilst not unduly stifling innovation. However, it may also be in the interests of national security to elevate matters of foreign policy – as a means of securing stronger ties and connections with foreign allies – particularly where matters of national security are at stake. This may incorporate the embrace of vital policy matters relating to climate and environmental policy matters – which are increasingly constituting the core and primary elements of many national interests and concerns. As well as a consideration of the above mentioned questions and issues, this paper, aims to reiterate how a “ No Deal Brexit Scenario” could be averted – as well as highlight why it is necessary to ensure that economic interests are not placed in a situation whereby shorter term interests prevail over more beneficial longer term objectives.