As we slowly diverge from EU standards on a variety of products - because we have 'taken back control' - we can expect more people to start to understand the importance of 'friction' in #Internationaltrade.
We're already seeing these additional costs for testing for compliance (for imports into the UK & for our exports into the EU).
And from a discussion of 'friction' will come an understanding of Non-Tariff-Barriers (NTBs).
Once again #Brexit provides a good example of what is sometimes referred to as the 'gravity' model of #internationaltrade... the nearer (& larger) the market is the greater the pull of imports & exports (& thus volumes).
Leaving the #EuropeanUnion added friction & barriers to dealing with our closest major market(s); fiddling round with trade deal(s) with distant economies will never make up for the gravitational pull of a neighbouring market... as we are finding out!
“Israeli long-range missiles and exploding drones known as loitering munitions have made up for Azerbaijan’s small air force, even at times striking deep within #Armenia itself. Meanwhile, #Israel Barak-8 surface-to-air #missiles have protected #Azerbaijan’s airspace in shooting down missiles and #drones,” said Pieter Wezeman, senior researcher at the Stockholm International Peace Research Institute, which tracks #arms sales.
For more, read this #policy brief by George Mason University #law professor and #IP rights expert Adam Mossoff, and infectious disease physician and senior scholar at the Johns Hopkins Center for #Health Security Dr. Amesh Adalja:
My latest for @NWBylines looks at Investor State Dispute Settlement (which is part of the Comprehensive & Progressive Agreement for Trans-Pacific Partnership) that the UK has just joined... #ISDS is not an uncommon element of #internationaltrade agreements (despite the EU cooling on them recently).
I conclude that ISDS 'is a window on how states have either facilitated, or been forced to facilitate, an expansion of the rights of #corporations'.