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A hitch-hiker’s guide to post-Brexit trade negotiations: options and principles

Author

Listed:
  • Swati Dhingra
  • Gianmarco Ottaviano
  • Thomas Sampson

Abstract

Brexit will require the UK to negotiate new trade arrangements with the EU. After summarizing the main options for future UK–EU trade relations, this article reviews the purpose of trade agreements. We highlight that trade negotiations are a bargaining game between countries seeking to reap the gains from international coordination while conceding as little as possible to their negotiating partners. This leads us to propose four principles the UK should adopt to guide its trade negotiating strategy: (i) you get what you give; (ii) where negotiations start from matters; (iii) bargain from a position of power; and (iv) invest in negotiating capacity.

Suggested Citation

  • Swati Dhingra & Gianmarco Ottaviano & Thomas Sampson, 2017. "A hitch-hiker’s guide to post-Brexit trade negotiations: options and principles," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 33(suppl_1), pages 22-30.
    • Handle: RePEc:oup:oxford:v:33:y:2017:i:suppl_1:p:s22-s30.
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    File URL: http://hdl.handle.net/10.1093/oxrep/grx005
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    Cited by:

    1. Swati Dhingra & Gianmarco Ottaviano & Veronica Rappoport & Thomas Sampson & Catherine Thomas, 2018. "UK trade and FDI: A post‐Brexit perspective," Papers in Regional Science, Wiley Blackwell, vol. 97(1), pages 9-24, March.
    2. Philip Mayer & Christopher Stephen Ball & Stefan Vögele & Wilhelm Kuckshinrichs & Dirk Rübbelke, 2019. "Analyzing Brexit: Implications for the Electricity System of Great Britain," Energies, MDPI, vol. 12(17), pages 1-27, August.

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    Keywords

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    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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