Brexit: Liam Fox – Still not signed any trade agreements

TruePublica Editor: A chapter is dedicated in the book Brexit – A corporate Coup D’Etat to Liam Fox’s desire to see Britain become little America. It is quite obvious to those keeping one eye open that no Brexit is going to be hard enough for Dr Liam Fox. Much of what is written in that book is his connection to murky think tanks and free trade organisations linked to the hard right wing American Tea Party and the corporations that fund them who also funded Donald Trump’s ascendency to the White House. Yet again, we see Liam Fox’s failure to understand some basic trading economics – much to the future detriment to the UK.

 

We should not forget who Liam Fox is, what huge power he has over every citizen and how unbelievably wrong the man is when it comes to his version of Brexit. Just two political statements of his demonstrate just how wrong he really is.

“The free trade agreement that we will have to do with the European Union should be one of the easiest in human history” (BBC Today – 20th July 2017).

“There is a 60‑40 chance of no-deal Brexit” (Sunday Times – 5th August 2018).

The contrast between these two statements is astonishing given his role.

Liam Fox told Conservative activists only a few days ago that – “All these faint hearts saying we cannot do it – it’s absolute rubbish.”

And yet, even according to the BBC, the UK has yet to finalise any agreements to replace existing free trade deals the EU has with the 40 big economies of the world if there is a no-deal Brexit.

The International Trade Secretary said he “hoped” they would but it depended on whether other countries were “willing to put the work in”.

The only trade deal in the pipeline is with Australia – which is currently worth just £8.6 billion in a UK economy currently worth £2.2 trillion where about 40 per cent of export trade goes to the EU alone – and even the agreement that Liam Fox has signed for what he has said is a free trade agreement is not true.

First of all, Fox only signed a “mutual recognition agreement” with the Australian high commissioner in London – to maintain all current relevant aspects of the agreement it has with the EU. But we should not forget that the EU does not have a trade agreement with Australia anyway.

Much of Australian goods are animal products and many of them are banned in the EU just as American animal products are given the application of growth hormone promotants. The answer to that is that for Australia to sign any type of trade agreement is that Britain HAS TO ACCEPT its hormone-treated animal products. About 40 per cent of all cattle in Australia are treated with growth hormones currently banned in the EU and UK. America has said the same.

Concerns have been raised that the UK will leave the EU without any type of deal that would protect current trading arrangements that are in place with the EU.

In 2017, Liam Fox also rather optimistically said that the UK could “replicate the 40 free trade agreements before we leave the EU,” so that there would be no disruption to trade, but has so far failed to do so, with just weeks remaining.

Liam Fox was asked about a report in the Financial Times that Britain would not be close to finalising most of the 40 free trade deals the EU currently has with other countries, Liam Fox told the BBC: “I hope they will be but they are not just dependent on the UK. Our side is ready.” In other words – correct, we are not close to finalising any agreements to that extent.

Fox also said -“It’s largely dependent on other whether countries believe that there will be no deal and are willing to put the work in to the preparations.” In other words – correct, we are not close to finalising any agreements to that extent.

 

 

 

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