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UK trade policy will now be more considered

Monday, November 28, 2022

Significance

Sunak prefers a more considered approach to free trade agreements (FTAs), placing greater emphasis than his predecessors on optimising the terms rather than securing swift deals that publicly vindicate Brexit. His desire for compromise with the EU over the Northern Ireland Protocol is complicated by fierce resistance within his Conservative Party.

Impacts

  • Under Sunak, the United Kingdom will seek to obtain more concessions in financial and other services sectors in trade deals.
  • Talks for a new FTA with the Gulf Cooperation Council have started but divisions among members will likely delay progress.
  • The emphasis on economic security will become an increasingly important feature of trade policy over the coming years.

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