Briefing Paper 69 – September 2022 Download Briefing Paper 69 Peter Holmes, Anna Jerzewska and Guillermo Larbalestier Key Points Introduction Freeports and Duty Drawback Prohibition in FTAs Freeports and Origin Freeports and Subsidies How has this been addressed in other agreements? Conclusions Key Points This paper discusses some of the obstacles that goods from UK Freeports may face when exported to countries with which the UK has a preferential trading relationship. Many of the UK’s Free Trade Agreements (FTAs) contain provisions that deny preferential access to goods which, during their manufacturing process, benefited from duty drawback, i.e. the refund of – or exemption from – customs duty on imported inputs. The originating status of goods produced in free ports may be affected by rules going beyond direct provisions in FTAs. The origin of a good produced in a free port may be affected by the customs legislation of a trading partner. The tax incentives offered by the UK Freeports may be perceived by an importing partner as unfair export subsidies. Counter measures against subsidies may be taken under provisions in the FTAs, World Trade Organization (WTO) rules, or unilaterally. FTA agreements around the world treat free ports differently. [...]

  Briefing Paper 68 – August 2022 Camilla Jensen, Guillermo Larbalestier, Peter Holmes Key Points Introduction Background Oil versus Gas                                                                                                                     The importance of market power to policy analysis          Import tariffs, import bans or a buyer’s club price cap? Policy evaluation Conclusion                                                                                                                                                                              Download Briefing Paper 68   Key Points Economic sanctions against Russia targeted [...]

Download Briefing Paper 65 Briefing Paper 65 – December 2021 Peter Holmes and Guillermo Larbalestier Key Points Introduction How important is the UK-US trade relationship and what are the main challenges? Goods Trade Regulatory Challenges Agriculture and Agri-food Services Trade and Digital Trade Value Chain Activity Trade in Intermediates Trade in Value-added (TiVA) Supply Chain Resilience Where does the UK fit into the US-EU-China trilateral relationship? Climate change cooperation Conclusion Key Points The UK Government has signed (or “rolled-over”) trade deals with the EU and almost 70 other countries as part of its post-Brexit Global Britain vision. However, a trade deal with its largest single-country trading partner – the US – remains elusive despite significant economic interests and rounds of official negotiations. The bilateral commercial relationship is biased towards services and investment as opposed to goods. Despite this, Free Trade Agreement (FTA) provisions on market access for goods present some of the bigger obstacles towards consolidating the agreement. In the absence of an FTA, closer economic integration is more likely to be achieved through ad-hoc regulatory deals and other stand-alone deals that could address trade barriers specific to sectors or industries. The UK’s ability to lead the world [...]