Advertisement

Brexit, Trumpism and the Structure of International Trade Regulation

  • Per CramérEmail author
Chapter

Abstract

This chapter seeks to identify structural changes in the regulation of international trade consequent upon Trump and Brexit. The point of departure is that both of these political changes were driven by similar populist-tinged lines of argument in which matters related to the design of foreign trade policy are central. The chapter begins with a retrospective look at the main elements of the development of international trade regulation. Cramér argues that a field of tension has arisen since 1945 between a multilateral ideal, on the one hand, and the development of regional and bilateral preferential trade agreements, on the other, in the form of free trade areas or customs unions. Against this backdrop, the chapter recounts the changes in US foreign trade policy during the current administration and the likely effects of the British withdrawal from the EU. The author describes four trends in international trade that will inevitably be strengthened by Brexit and the Trump administration’s international trade policy agenda. He underscores the importance of the EU bucking these trends and working towards modernized multilateralism that more fully responds to the challenges facing global society.

References

  1. Bairoch, P. (1993). Economics and World History, Myths and Paradoxes. London: Harvester Wheatsheaf.Google Scholar
  2. Barnier, M. (2018). An Ambitious Partnership with the UK After Brexit. Brussels: European Commission. Retrieved from October 2, 2018, from https://ec.europa.eu/commission/news/ambitious-partnership-uk-after-brexit-2018-aug-02_en.
  3. Bernanke, B., & James, H. (1991). The Gold Standard, Deflation, and Financial Crisis in the Great Depression: An International Comparison. In R. G. Hubbard (Ed.), Financial Markets and Financial Crises. Chicago: University of Chicago Press.Google Scholar
  4. Bhagwati, J. (1991). The World Trading System at Risk. Princeton: Princeton University Press.CrossRefGoogle Scholar
  5. Brooke, R. (1915). 1914 & Other Poems. London: Sidgwick and Jackson.Google Scholar
  6. Cramér, P. (2012). The Doha Round and the Search for a Functional and Legitimate Co-ordination Between the UNFCCC and the WTO. RSCAS Policy Papers 2012/06, Florence; EUI.Google Scholar
  7. Cremona, M. (2018). Shaping EU Trade Policy post-Lisbon: Opinion 2/15 of 16 May 2017: ECJ, 16 May 2017, Opinion 2/15 Free Trade Agreement with Singapore. European Constitutional Law Review, 14(1), 231–259.CrossRefGoogle Scholar
  8. Dougan, M. (2018). An Airbag for the Crash Test Dummies? EU-UK Negotiations for Post-Withdrawal “Status Quo” Transitional Regime under Article 50 TEU. Common Market Law Review, 55, 57–100.Google Scholar
  9. European Commission. (2006). Global Europe: Competing in the World. A Contribution to the EU’s Growth and Jobs Strategy. Retrieved October 2, 2018, from http://trade.ec.europa.eu/doclib/docs/2006/october/tradoc_130376.pdf.
  10. European Commission. (2015). Trade for All – Towards a More Responsible Trade and Investment Policy. Retrieved October 2, 2018, from http://trade.ec.europa.eu/doclib/docs/2015/october/tradoc_153846.pdf.
  11. European Commission. (2017a, December 8). EU and Japan Finalize Economic Partnership Agreement. Brussels. Retrieved October 2, 2018, from http://europa.eu/rapid/press-release_IP-17-5142_en.htm.
  12. European Commission. (2017b). Reflection Paper on Globalisation. Retrieved October 2, 2018, from https://ec.europa.eu/commission/sites/beta-political/files/reflection-paper-globalisation_en.pdf.
  13. European Commission. (2018a, April 18). European Commission Proposes Signature and Conclusion of Japan and Singapore Agreements. Strasbourg. Retrieved October 2, 2018, from http://europa.eu/rapid/press-release_IP-18-3325_en.htm.
  14. European Commission. (2018b, March 19). Draft Agreement on the Withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community. Retrieved October 2, 2018, from https://ec.europa.eu/commission/sites/beta-political/files/draft_agreement_coloured.pdf.
  15. Fukuyama, F. (1989). The End of History? The National Interest. Summer 1989: 1–18.Google Scholar
  16. Globe and Mail. (2018, June 1). Trump Floats Replacing NAFTA with Bilateral Agreements with Canada, Mexico. The Globe and Mail. Retrieved from October 2, 2018, from https://www.theglobeandmail.com/world/article-trump-floats-replacing-nafta-with-bilateral-agreements-with-canada/.
  17. Hillion, C. (2018). Withdrawal Under Article 50 TEU: An Integration-Friendly Process. Common Market Law Review, 55, 29–56.Google Scholar
  18. Huhe, N., Naurin, D., & Thomson, R. (2017, August). With or Without You? Policy Impact in the Council of the EU After Brexit. SIEPS European Policy Analysis. Retrieved from http://www.sieps.se/en/publications/2017/with-or-without-you-policy-impact-and-networks-in-the-council-of-the-eu-after-brexit/.
  19. Lamy, P. (2002). Stepping Stones or Stumbling Blocks? The EU’s Approach Towards the Problem of Multilateralism vs Regionalism in Trade Policy. The World Economy, 25(10), 1399–1413.CrossRefGoogle Scholar
  20. Lazer, D. A. (1999). The Free Trade Epidemic of the 1860’s and Other Outbreaks of Economic Discrimination. World Politics, 51(4), 447–483.CrossRefGoogle Scholar
  21. Lindberg, L., & Alvstam, C. (2012). The Ambiguous Role of the WTO in Times of Stalled Multilateral Negotiations and Proliferating FTA’s in East Asia. International Negotiation, 17, 165–189.CrossRefGoogle Scholar
  22. Melo Araujo, B. (2014). The EU’s Deep Trade Agenda: Stumbling Block or Stepping Stone Towards Multilateral Liberalisation? In C. Herrmann, M. Krajewski, & J. P. Terhechte (Eds.), European Yearbook of International Economic Law 2014 (pp. 263–284). Berlin: Springer.Google Scholar
  23. Mitrany, D. (1941). The Functional Theory of Politics. London: Martin Robertson & Company.Google Scholar
  24. Müller, J. W. (2016). What Is Populism? Philadelphia: University of Pennsylvania Press.CrossRefGoogle Scholar
  25. Payosova, T., Hufbauer G. C., & Schott, J. J. (2018). The Dispute Settlement Crisis in the World Trade Organization: Causes and Cures. Policy Brief 2018: 5. Washington DC: Peterson Institute for International Economics.Google Scholar
  26. Polanyi, K. (1944). The Great Transformation: The Political and Economic Origins of Our Time. New York: Farrar & Rinehart.Google Scholar
  27. Ross, W. (2017, July 31). Free Trade Is a Two Way Street. The Wall Street Journal. Retrieved October 2, 2018, from https://www.wsj.com/articles/free-trade-is-a-two-way-street-1501542569.
  28. Snyder, T. (2017). On Tyranny: Twenty Lessons from the Twentieth Century. London: Bodley Head.Google Scholar
  29. United Kingdom. (2018, July). The Future Relationship Between the United Kingdom and the European Union, Presented to Parliament by the Prime Minister by Command of Her Majesty. Retrieved October 2, 2018 https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/725288/The_future_relationship_between_the_United_Kingdom_and_the_European_Union.pdf.
  30. United States. (2017a). The President’s 2017 Trade Policy Agenda. Retrieved October 2, 2018 https://ustr.gov/sites/default/files/files/reports/2017/AnnualReport/Chapter%20I%20-%20The%20President%27s%20Trade%20Policy%20Agenda.pdf.
  31. United States. (2017b, March 31). Presidential Executive Order on Establishing Enhanced Collection and Enforcement of Antidumping and Countervailing Duties and Violations of Trade and Customs Laws. Retrieved October 2, 2018, from https://www.whitehouse.gov/presidential-actions/presidential-executive-order-establishing-enhanced-collection-enforcement-antidumping-countervailing-duties-violations-trade-customs-laws/.
  32. United States. (2017c, June 1). Statement by President Trump on the Paris Climate Accord. Retrieved October 2, 2018, from https://www.whitehouse.gov/briefings-statements/statement-president-trump-paris-climate-accord/.
  33. United States. (2017d, August 4). Communication Regarding Intent to Withdraw from Paris Agreement. Office of the Spokesperson. Retrieved October 2, 2018, from https://www.state.gov/r/pa/prs/ps/2017/08/273050.htm.
  34. United States. (2018a). Putting America First: The President’s 2018 Trade Policy Agenda. Retrieved October 2, 2018, from https://ustr.gov/sites/default/files/files/Press/Reports/2018/AR/2018%20Annual%20Report%20I.pdf.
  35. United States. (2018b, March 8). Presidential Proclamation on Adjusting Imports of Steel into the United States. Retrieved October 2, 2018, from https://www.whitehouse.gov/presidential-actions/presidential-proclamation-adjusting-imports-steel-united-states/.
  36. WTO. (2016, June 21). Report on G20 Trade Measures. Retrieved October 2, 2018, from https://www.wto.org/english/news_e/news16_e/g20_wto_report_june16_e.pdf.

Copyright information

© The Author(s) 2020

Authors and Affiliations

  1. 1.University of GothenburgGothenburgSweden

Personalised recommendations