State of play in global trade

The majority of global trade today involves global value chains, creating a highly interdependent system. As the UK’s place in global trade is changing, it is increasingly important that the UK adopts a forward looking approach and considers how trade deals and international relationships can best support UK’s economic growth. The Commission heard from six expert witnesses on what the UK Government should learn from the current state of play in global trade.

The UKTBC found that;

a) UK trade has reduced significantly since Brexit and new trade deals forged by the UK Government have not yet had a big impact.

b) The UK can learn from other countries how best to position itself within the current global trading environment.

c) The UK does not have a coherent, demand-led and worker-centred approach to trade policy. Aligning domestic policy and national security with trade strategy will allow the UK to improve and develop its position in international trade.