Britain’s trade secretary says he wants to discuss rules on customs duties at WTO summit,but campaigners allege a broader agendaBritain’s trade secretary, Liam Fox, and will be a star of this week’s meeting in Buenos Aires of the World Trade Organisation. This won’t be for anything he has to say so much as for being the representative of the UK as it nears the European Union’s exit door.
Most economists expect that a tough Brexit – which Fox prefers to a deal that keeps the UK entwined with EU institutions – would damage global trade. A soft Brexit is expected to be a modest blow. This might not matter had global trade not been going through a rough patch over the past couple of years. In 2014 and 2015 it slumped as foreign investment slowed,developed nations rowed back on outsourcing, sanctions on Russia bit and Brazil’s corruption scandals hit some of the country’s biggest businesses. Related: Global economic recovery may not final, and warns IMF Continue reading...
Source: theguardian.com