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Both the Japanese and UK official positions are that in the event of Brexit severing these new ties via the EU, they want to implement a bilateral deal as quick
by Silhouette 8y ago
Both the Japanese and UK official positions are that in the event of Brexit severing these new ties via the EU, they want to implement a bilateral deal as quickly as possible that covers the same benefits as the EPA with possibilities for going further. Obviously various parties involved would prefer a more orderly transition, though.
One somewhat ironic possible outcome if there is a hard Brexit is that the UK could subsequently form a relationship with the CPTPP group that is broadly similar in nature to the new Japan-EU agreement.
- mpweiher 8y agoExcept the argument made by the Brexiteers is that the EU can't do trade deals and Britain would be able to do so much better and quicker outside. Hmm...
- Silhouette 8y agoSorry, I'm not very interested in debating subjective views of what more than 17 million people might have wanted. Little of value ever seems to result from such discussions. All I'm saying is that the original comment by tonyedgecomb seems a bit pessimistic, because whatever happens with Brexit, either the UK will retain the benefits of the new EU arrangement or the UK and Japan have declared a very public intention to form an analogous agreement as quickly as possible to retain the same benefits for both parties.
- nicoburns 8y agoIf that did occur, wouldn't that allow the UK and the EU to trade freely via Japan...?
- Silhouette 8y agoNot necessarily, because there could (almost almost certainly would) be rules of origin involved. These trade deals reduce or eliminate trade barriers to a useful degree, but they aren't as all-encompassing as full membership of the EU.
- mcintyre1994 8y agoThis is also why countries like Japan and Canada are expressing they'll carry over deals with no changes, and British politicians are really disingenous to say that'd work fine. If the rule is say 60% has to be from the EU to be eligible, and it's 40% UK and 60% EU, then keeping that rule will make it ineligible in a UK bilateral deal. So things could become a lot more one sided with no changes to the actual deal.
- Silhouette 8y agoIndeed. Even directly derived agreements surely won't be concluded overnight, because there will be numerical issues about quotes, rules of origin and the like that will need to be reinterpreted to still make sense. Related concerns arise about the UK operating independently under WTO rules but trying to "inherit" the previous EU tariff schedules.