How to make sense of the increasing number of UK-EU trade disruption stories?
In short - outside of a single market product checks and people working restrictions are inevitable. And outside a customs union you will have tariffs and / or rules of origin.
Detail ---> 1/
E.g. I attended an event at HoC where we discussed the implications for aerospace of UK leaving EASA. The gov minister said the gov would never do this as they understood the issues.
— Simon Hancock (@simonhancock_uk) January 8, 2021
They then decided to leave without any further consultation with the industry.
More from David Henig
This potential benefit list from CPTPP is not the longest and is still misleading. Those Malaysian whisky tariffs - emilimated over 15 years (if they don't seek any specific exemption for UK). Those rules of origin benefits? Only apply to import / export to CPTPP countries. https://t.co/9TbheOVhsR
Here's my more realistic take on CPTPP. Economic gains limited, but politically in terms of trade this makes some sort of sense, these are likely allies. DIT doesn't say this, presumably the idea of Australia or Canada as our equal upsets them.
As previously noted agriculture interests in Australia and New Zealand expect us to reach generous agreements in WTO talks and bilaterals before acceding to CPTPP. So this isn't a definite. Oh and Australia wants to know if we'll allow hormone treated beef
Ultimately trade deals are political, and the UK really wants CPTPP as part of the pivot to indo-pacific, and some adherents also hope it forces us to change food laws without having to do it in a US deal (isn't certain if this is the case or not).
If we can accede to CPTPP without having to make changes to domestic laws it is fine. Just shouldn't be our priority, as it does little for services, is geographically remote, and hardly cutting edge on issues like climate change or animal welfare.
Tomorrow we will formally apply to join #CPTPP \U0001f1ec\U0001f1e7
— Liz Truss (@trussliz) January 31, 2021
Membership will help drive an export- led, jobs-led recovery across \U0001f1ec\U0001f1e7 bringing more opportunities to trade with fast growing Pacific nations. \U0001f30e
Read more here\U0001f447https://t.co/5sQhgW4vCM
Here's my more realistic take on CPTPP. Economic gains limited, but politically in terms of trade this makes some sort of sense, these are likely allies. DIT doesn't say this, presumably the idea of Australia or Canada as our equal upsets them.
Gather UK application to join CPTPP is finally about to be announced, not that it was exactly a secret. Economic value limited given distance and existing UK deals, not a particularly strong or modern agreement in areas of UK strength like services, but...
— David Henig (@DavidHenigUK) January 30, 2021
As previously noted agriculture interests in Australia and New Zealand expect us to reach generous agreements in WTO talks and bilaterals before acceding to CPTPP. So this isn't a definite. Oh and Australia wants to know if we'll allow hormone treated beef
Ultimately trade deals are political, and the UK really wants CPTPP as part of the pivot to indo-pacific, and some adherents also hope it forces us to change food laws without having to do it in a US deal (isn't certain if this is the case or not).
If we can accede to CPTPP without having to make changes to domestic laws it is fine. Just shouldn't be our priority, as it does little for services, is geographically remote, and hardly cutting edge on issues like climate change or animal welfare.
So many stories of new barriers to trade between UK and EU, but you might be thinking at some point these will run out. The government is certainly hoping so. Well they may slow down, but trade relations and regulations are not static, and changes will lead to further problems.
The likelihood of continued trade problems for a £650 bn trade relationship is why there should be a huge cross-government effort led by the Foreign Office and Department for International Trade to put in place the necessary resources to seek best results.
There isn't.
So the UK's relationship with the EU currently consists of two not particularly good deals and no consistent effort to manage current problems or prevent future ones. Joint committees are a second order problem to putting in place the right internal structures.
But that's been the consistent UK problem in relations with the EU since 2016. Lack of focus on getting the right internal structures, people, asks, strategy, too much attention on being tough and a single leader.
News just in. This doesn't necessarily mean the right structure being put into UK-EU relations. I suspect Frost's main role is to ensure no renegotiations with the EU.
Also, wonder what this says about the PM's trust in Michael Gove?
The likelihood of continued trade problems for a £650 bn trade relationship is why there should be a huge cross-government effort led by the Foreign Office and Department for International Trade to put in place the necessary resources to seek best results.
There isn't.
So the UK's relationship with the EU currently consists of two not particularly good deals and no consistent effort to manage current problems or prevent future ones. Joint committees are a second order problem to putting in place the right internal structures.
But that's been the consistent UK problem in relations with the EU since 2016. Lack of focus on getting the right internal structures, people, asks, strategy, too much attention on being tough and a single leader.
News just in. This doesn't necessarily mean the right structure being put into UK-EU relations. I suspect Frost's main role is to ensure no renegotiations with the EU.
Also, wonder what this says about the PM's trust in Michael Gove?
NEW: David Frost is joining Boris Johnson\u2019s Cabinet! The peer has been appointed a minister at the Cabinet Office, effective March 1.
— Sebastian Payne (@SebastianEPayne) February 17, 2021
Frost will also chair the partnership council overseeing the UK-EU trade deal and oversee reform to "maximise on the opportunities of Brexit"
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1/ Some initial thoughts on personal moats:
Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.
Characteristics of a personal moat below:
2/ Like a company moat, you want to build career capital while you sleep.
As Andrew Chen noted:
3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized
Things that might get commoditized over time (some longer than
4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.
After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.
5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.
In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.
Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.
Characteristics of a personal moat below:
I'm increasingly interested in the idea of "personal moats" in the context of careers.
— Erik Torenberg (@eriktorenberg) November 22, 2018
Moats should be:
- Hard to learn and hard to do (but perhaps easier for you)
- Skills that are rare and valuable
- Legible
- Compounding over time
- Unique to your own talents & interests https://t.co/bB3k1YcH5b
2/ Like a company moat, you want to build career capital while you sleep.
As Andrew Chen noted:
People talk about \u201cpassive income\u201d a lot but not about \u201cpassive social capital\u201d or \u201cpassive networking\u201d or \u201cpassive knowledge gaining\u201d but that\u2019s what you can architect if you have a thing and it grows over time without intensive constant effort to sustain it
— Andrew Chen (@andrewchen) November 22, 2018
3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized
Things that might get commoditized over time (some longer than
Things that look like moats but likely aren\u2019t or may fade:
— Erik Torenberg (@eriktorenberg) November 22, 2018
- Proprietary networks
- Being something other than one of the best at any tournament style-game
- Many "awards"
- Twitter followers or general reach without "respect"
- Anything that depends on information asymmetry https://t.co/abjxesVIh9
4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.
After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.
5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.
In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.
