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In the Media

Financial Times | Blow for Liam Fox as UK’s fast-track WTO bid hits buffer

26 Oct 2018
|
Regions: 
UK,
Multilateral

Liam Fox has suffered a setback in his bid to secure fast track normalisation of the UK’s World Trade Organization commitments before Brexit, conceding that Britain faces the prospect of lengthy negotiations.
Stephen Adams, senior director at Global Counsel, a consultancy, said: “It’s a headache but you don’t need your own WTO schedules locked down on Brexit day one. Given the chance for other WTO members to press the UK for new concessions, this was never likely to be done quickly.”
 

The Wall Street Journal | British Trade Negotiator’s Conundrum: Can He Actually Make Any Deals?

16 Oct 2018
|
Regions: 
EU/Eurozone,
UK

When the U.K. voted to leave the European Union in 2016, the British government had no chief trade negotiator and only a handful of people engaged in trade policy. As part of the EU, Britain hadn’t been able to forge its own trade deals since the 1970s.
Stephen Adams, Senior Director at Global Counsel, said: "Until countries know whether the U.K. is remaining in the EU’s customs union or not after the transition, they probably won’t want to strike trade deals".

Financial Times | US-China trade war — and haunting lessons from the past

17 Sep 2018
|
Regions: 
Americas,
Multilateral

Some advice for business Global Counsel, an advisory firm, passed on a report published in Singapore by Peter Mandelson, former EU trade commissioner, and Carlos Gutierrez, former US Commerce secretary. In the face of so much uncertainty on trade, they flagged up a few tips for businesses trying to navigate the new environment. 

Politico | Trump signs tariff-cutting bill into law

14 Sep 2018
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Regions: 
Americas,
Multilateral

President Donald Trump signed legislation on Thursday that would reduce tariffs on nearly 1,700 imported products used by U.S. manufacturers — an uncharacteristic move for the leader who has shown an affinity for imposing tariffs on foreign goods. (...) Trump’s trade actions will likely divert certain trade and investment opportunities away from the U.S. and to other countries, leaving American companies at a disadvantage, according to a new report by former Commerce Secretary Carlos Gutierrez and former EU trade chief Peter Mandelson.

Nikkei | US consumers are the victims of Trump's China tariffs

12 Sep 2018
|
Regions: 
ASEAN,
Americas,
Multilateral

On Wednesday, Gutierrez and Peter Mandelson, former European Union Commissioner for Trade between 2004 and 2008, published a paper titled "Navigating the global trading system crisis: What businesses need to know."

Peter Mandelson said that he does not believe China is going to reinvent its whole economic and industrial model. In addition, he thinks there will be more international capital flowing into the Chinese economy, and that there will be a greater role for the private sector alongside China's state-owned enterprises in the coming years.

Financial Times | Doubt cast on Liam Fox’s UK-Pacific trade plan after Brexit

13 Aug 2018
|
Regions: 
EU/Eurozone,
UK,
Americas,
Multilateral

Liam Fox’s plan to take Britain into a trans-Pacific trade bloc after Brexit is not compatible with the strategy laid out by Theresa May at Chequers last month, trade experts said.

Stephen Adams, a trade expert at Global Counsel, a consultancy, said: “The UK and all these countries will need to be confident that they don’t lose by trading bilateral arrangements for the CPTPP framework and can preserve important features of these agreements inside CPTPP.”

France 24 | Brexit: Lead campaign group face police inquiry over spending

17 Jul 2018
|
Regions: 
EU/Eurozone,
UK

Commenting on British white paper, Gregor Irwin, Global Counsel Chief Economist said: 

"There's certainly a softer Brexit for goods. It's a harder Brexit for services because the government has said it can tolerate a much looser arrangement with the EU. And services is a bigger part of the British economy than manufacturing."

CNN Money | How Europe could fight back if Trump taxes car imports

25 Jun 2018
|
Regions: 
EU/Eurozone,
Americas

A move by President Donald Trump to impose tariffs on cars assembled in Europe would dramatically escalate trade tensions and produce a quick response from the European Union.

The European Union will chose its targets from US imports worth about €256 billion ($299 billion) each year.

"The targets will be a combination of iconic US brands and politically sensitive agricultural products," said Gregor Irwin, chief economist at Global Counsel.