Open figure viewer
Significance
Sunak prefers a more considered approach to free trade agreements (FTAs), placing greater emphasis than his predecessors on optimising the terms rather than securing swift deals that publicly vindicate Brexit. His desire for compromise with the EU over the Northern Ireland Protocol is complicated by fierce resistance within his Conservative Party.
Impacts
Under Sunak, the United Kingdom will seek to obtain more concessions in financial and other services sectors in trade deals.
Talks for a new FTA with the Gulf Cooperation Council have started but divisions among members will likely delay progress.
The emphasis on economic security will become an increasingly important feature of trade policy over the coming years.
Keywords:
United Kingdom,
EUR,
China,
United States,
WTO,
EU,
Australia,
India,
New Zealand,
Northern Ireland,
economy,
industry,
international relations,
politics,
foreign trade,
government,
policy,
talks,
agriculture,
environment,
finance,
security,
services,
legislation,
party
© Oxford Analytica 2022. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice or recommendations that may be relied on. Where links to external websites are provided, this does not indicate that Oxford Analytica or Emerald agree with, endorse or have checked for accuracy the contents of said sites.
2022
You do not currently have access to this content.
