Daniela Stratulativ

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The Irish Backstop and Trade – What and How Much?

By Daniela Stratulativ 2019-02-25 23:15:27

The Irish backstop solution for Brexit would ensure Ireland's border with Northern Ireland remains open. In November last year, the European Commission stated that the E.U. and the U.K. have committed that they will use their best endeavors to conclude and ratify an agreement by July 1, 2020 which would replace the backstop. On February 20, 2019, European Commission President Jean-Claude Juncker and British Prime Minister Theresa May said that the backstop provision is temporary. What the backstop means: there...

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Credit: IHS Markits

Brexit: What's at Stake for U.K. Trade

By Daniela Stratulativ 2019-02-13 15:41:18

If the U.K. leaves the E.U. Customs Union, it would be able to negotiate free trade agreements on its own terms with non-E.U. countries, and with the E.U. These agreements could take between four and 10 years to finalize, and until then the U.K. will trade on World Trade Organization terms which would mean higher tariffs, increased costs for intermediate outputs used in U.K. production and higher prices for consumers.  The E.U. currently has 43 free trade agreements (FTAs) in...

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