Bloomberg Talks UK's Former Chief Trade Negotiation Adviser Talks Tariffs
Apr 1, 2025
Crawford Falconer, the former UK government's Chief Trade Negotiation Adviser, shares his deep expertise on trade strategies. He discusses the anticipated impact of upcoming US tariff announcements and emphasizes the importance of strategic planning for trade talks. Falconer also highlights the challenges of digital services tax negotiations with the US and the necessity of moving beyond tariffs to foster growth. His insights into post-Brexit trade relations shed light on the delicate balance needed in diplomacy while navigating global economic uncertainties.
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Trade Strategy
- Keep options open until US trade strategy clarifies.
- Prepare for various scenarios, including retaliation, negotiation, and business alignment.
Digital Services Tax
- The UK government seems resigned to Trump's tariffs, making preemptive concessions unwise.
- Scrapping the digital services tax might be a negotiation tactic, but its true value remains unclear.
Negotiation Approach
- Trade negotiations are not zero-sum; concessions benefit both parties economically.
- The UK and US can improve trade by adjusting tariffs and regulatory arrangements, like the US's high tariff on light trucks.