Here a short overview of new UK trade deals I saw today in the Dutch Financial Times.
Summarising those trade deals as a Brexit dream of an UK building on a Global Britain without a plan
(their words)
https://fd.nl/achtergrond/1350214/bouwen-aan-global-britain-brexitdroom-zonder-vast-plan
GDP UK 2019 £ 2,214 Billion.
New Zealand
GDP growth: 2.5% in 19 / 2.7% in 20
Mutual trade: 53rd UK trading partner with a total trading volume of £ 3bn
Trade deal value: Nil
What can be achieved for UK Practice and access to CPTPP
New Zealand back - access for their lamb to the UK market.
Australia
GDP growth: 1.7% in 2019 / 2.3% in 2020
Mutual trade: £ 18bn (€ 20bn) per year
UK exports mainly cars,
Australia mainly lots of gold and some wine
UK trade deal value (estimate): GDP increase of 0.01% -0.02% over 15 years. £ 900m in extra exports to Australia
What can be achieved for the UK More access for services sector, higher whiskey exports
What does Australia want in return? More meat sales.
Japan
GDP growth: 1.0% in 2019 / 0.7% in 2020 Cross-trade: £ 29.5bn (€ 32.5bn) in 2018
Trade deal value: up to 0.07% additional GDP growth over 15 years. £ 15.2bn in extra long-term trade
What can be achieved for the UK New agreements for data and digital services. In essence, this is a renegotiation of the existing EU-Japan deal.
What does Japan want in return? Japan especially wants to prevent more agricultural products from being exported to Japan.
USA
GDP growth: 2.3% in 2019 / 2.0% in 2020
Mutual trade: largest UK trading partner after EU. Good for 19% of UK exports (£ 221bn) and 11% of imports.
Trade deal value: 0.07% to 0.16% higher GDP for UK.
What can be achieved for UK? High symbolic value. New agreements on data and digital services should help the British fintech sector. More car exports,
what does the US want in return? Access for agricultural products, better conditions for American pharmaceutical companies.