The main objective of the parties negotiating a free trade agreement is generally to achieve a substantial improvement in the trade conditions they have, based on their WTO commitments, which effectively serve as a “basis” for discussion (see Brexit questions and answers: WTO rules). For example, with regard to tariffs, WTO members undertake not to impose tariffs on other WTO members from a certain level; these obligations are referred to as the WTO`s “MFN” or “most favoured nation.” A free trade agreement would attempt either to eliminate these tariffs altogether or to eliminate them for goods exchanged between the parties to the free trade agreement in order to significantly reduce the gap. Britain left the EU on 31 January, but there has been little progress on a new trade deal after a transitional status quo agreement expired in December. The trend is that trade agreements tend primarily to reduce import duties, i.e. tariffs on different types of goods when imported from another country. However, trade agreements deal with many other aspects of trade that, in practice, are also, if not more important, including: Anthony Blinken, Biden`s senior foreign policy adviser, said in September at an event organized by the U.S. Chamber of Commerce that the Democrat would end Trump`s “artificial trade war” with the EU. , calling it a “self-inflicted injury” that would increase and increase costs for U.S. consumers who depend on the relationship, have skyrocketed. The Biden campaign did not ask for an opinion on possible trade objectives with the EU. But Biden`s “Made in America” plan promises to create 5 million jobs in domestic production through tax credits and tighter restrictions on what is considered an American product.
In his campaign documents and public statements, Biden said he would focus first on domestic policy programs and right the middle class. Ambitious free trade agreements can cover all aspects of trade mentioned in the answer to question 1 above. They can also cover other issues such as public procurement, intellectual property, digital trade (including data protection), competition and state aid, as well as labour and environmental standards. These agreements (including schedules) are extremely complex and contain a high level of technical details concerning thousands of different types of products and services; They typically cover more than 1000 pages (including calendars). Parties to free trade agreements generally recognize that the movement of people is necessary to facilitate trade, especially for service companies – but they are often reluctant to commit to the requirements of their own national immigration rules. On the basis of draft texts published by the UK and the EU, the proposed free trade agreement between the EU and the UK should not be an exception to this general rule. This means that business travel between the UK and the EU should have an additional bureaucracy from 1 January 2021, even if there is an agreement. French Foreign Minister Jean-Yves le Drian said there was an urgent need to reach an agreement on trade and held the impasse accountable for Britain`s attitude.
For obvious reasons, this could prompt the UK to provide a better service deal than South Korea.