Towards a UK trade policy post-Brexit: The beginning of a complex Journey

Trade has had a stunning return to the spotlight since the results of the Brexit referendum were announced. Hardly a day goes by without front-page news on how the United Kingdom (UK) is succeeding or failing in trade politics. While some reports are confident that the UK will quickly conclude numerous trade agreements, which will put it in a more advantageous trade position than EU Member States,1 others state that the UK is unlikely to reach any trade agreement in a reasonable time frame and recommend focusing on reaching a favourable deal with the EU.2 The uncertainty is compounded by the perception that the government’s goals for the upcoming negotiations with the EU are somewhat opaque. ‘Red lines’ seem to dominate the picture in that regard: the UK wants full control over immigration and law-making and will not submit to control of the Court of Justice of the European Union (CJEU) or pay into the EU’s budget.3 On the contrary, the government’s rhetoric with respect to free trade agreements (FTAs) is entirely positive, declaring that the UK aims to ‘become a world leader in free trade’4 leading the charge for ‘a fair and rule-based system for global trade and investment’.5.