British American Business Publishes Akin Gump Summary of Brexit and U.S. Election
British American Business’s NETWORK has published the article “Akin Gump: A Time for Negotiation & Implications of A New Administration,” written by Akin Gump international trade partners Davina Garrod and Hal Shapiro. The article presents a look-ahead to pertinent trade issues in the United Kingdom and United States following Brexit and the U.S. election.
Garrod and Shapiro write that after the UK’s departure from the European Union, “goods will no longer circulate tariff-free and without border-formalities.” Additionally, the UK “should no longer have to pay £8.5 billion (net pa) into the EU budget.”
In the United States, the article notes that President Trump has suggested a 45 percent tariff on China’s imports as well as taxing imports from Mexico and “unraveling NAFTA.” Economists and other observers, the authors write, “have warned against such protectionist measures on the grounds that they could depress global trade, and trigger trade wars.”