Brexit Talks Stalled With Canada

A Different Bias

27 Jan 202411:03

Summary

TLDRThe video discusses the stalled UK-Canada trade negotiations, analyzing how desperate trade deals made early in Brexit undermined the UK's negotiating position. The host argues the Brexit promise of better trade deals outside the EU has failed, as leaving the single market made the UK a smaller, weaker negotiator. Pausing talks with Canada highlights this reality - initially desperate for deals, the UK is now unable to strike new agreements.

Takeaways

😟 The talks on trade deal with Canada have stalled over disagreements on agriculture
😔 The UK's leverage in trade deals has reduced after Brexit as its market size is now smaller
🤨 Brexiteers had claimed Brexit would allow quicker trade deals but that hasn't happened
😠 The UK desperation for deals meant early ones favoured partners over UK interests
😣 Other countries are now demanding concessions similar to those given to Australia
😒 Giving too much away in early deals has made later talks much more difficult
😞 Expected economic benefits from new trade deals have failed to materialize
🤔 Rejoining the Customs Union could resolve some trade issues but has political barriers
😩 Overall Brexit has damaged UK trade rather than improving it as claimed
😡 Correcting the damage will require honestly confronting the failures of Brexit promises

Q & A

What was one of the main arguments made by Brexiteers for leaving the EU customs union?
-Brexiteers argued that being in the customs union made it harder to strike trade deals because there were too many countries to satisfy. They claimed the UK could be more nimble on its own and strike deals more quickly with just two countries involved.
Why did the UK's trade talks with Canada stall?
-The talks stalled because the UK refused to accept hormone-injected beef from Canada, and Canada wanted to apply high tariffs to UK cheese exports. The negotiations seemed to be going nowhere.
How did the UK's trade deal with Australia impact negotiations with other countries?
-The UK was seen as caving in too much to Australia's demands just to get a deal, signaling to other countries like Canada that the UK was desperate for deals and would make major concessions.
What two factors did the author predict would hurt the UK in trade negotiations after Brexit?
-1) The UK would become a smaller market compared to the EU, meaning it would have to concede more in talks. 2) Other countries would know the UK was desperate for deals to prove Brexit was worthwhile.
Why did experts say trade deals can take up to 10 years to negotiate?
-Experts say it takes time for both sides to slowly negotiate better access to each other's markets while limiting how much they open of their own. This process ensures the best deal.
How have the UK's post-Brexit trade deals compared to what was promised?
-The deals have either given too much away just for quick headlines, or talks have stalled when the UK tries to negotiate properly. The end result is worse trading terms.
What does the official government analysis say about the economic impacts of these new trade deals?
-The analysis shows the deals provide almost no economic benefit to the UK. There is no predicted improvement in trade in 5, 10 or even 20 years.
What options does the UK have now regarding trade deal negotiations?
-The UK can either return to quickly conceding to demands for deals and headlines, or stick to its principles but face years of slow, difficult negotiations not producing results any time soon.
What does the author think is the best path forward for UK trade policy?
-The author believes trade deals should take place quietly in the background over years, concluded only when mutually beneficial, regardless of what government starts or finishes them.
What has the stall in UK-Canada trade talks demonstrated about Brexit?
-It has further demonstrated Brexit is not allowing the UK to negotiate decent, improved trade deals as promised. The benefits claimed by Brexiteers have failed to materialize.