The UK government promotes international trade under the banner ‘Exporting is GREAT’. This is laudable, but the economic benefits of free trade come mainly from what countries import, rather than from what they sell overseas. This is the main message from a paper I wrote recently for the Institute of Economic Affairs. Of course, it is not … Continue reading Importing is “GREAT”, too
Tag: free trade
Here are the slides from a presentation I gave today to sixth-form students... economics-of-free-trade-with-a-dash-of-brexit-8-july-2021Download
Opposition to tariff-free access to UK markets for Australian farmers is protectionism, pure and simple. Minette Batters, president of the National Farmers Union (NFU), argues that removing tariffs would make it ‘all but impossible’ for British family farms ‘to compete with vast volumes of imports from the southern hemisphere produced in a very different manner’. … Continue reading Britain should welcome cheaper food from Australia, not tax it
Brexit pessimists are having a field day following official confirmation that UK exports to the EU slumped in January – and they have a point. Anything that increases the cost of doing business across borders was always likely to reduce trade. Nonetheless, the first month’s trade figures after the end of the transition period are … Continue reading Is Britain winning or losing from Brexit?