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Eurosceptics fooling themselves about trade benefits - higher duties, barriers say studies

May 17, 2016 11:25 AM

"Europe's pre-EU experience lends little support to the idea that free trade can flourish in the world of sovereign nation-states, unencumbered by mechanisms of international governance like the EU or the WTO, writes Dalibor Rohac, a research fellow at the American Enterprise Institute, in an opinion piece in Politico.

British businesses should be forced to pay high duties and face tough trade barriers if the UK quits the European Union, according to continental companies. A study of 300 leading firms across France, Spain, Italy and Germany, reported by the This is Money website, found that two-thirds believed Britain should be 'penalised' in future trade deals in the event of a Brexit: http://www.thisismoney.co.uk/money/news/article-3590634/We-ll-make-pay-Firms-Continent-want-tough-trade-barriers-high-duties-imposed-UK-leave-EU.html

London has no "God given" right to remain a global banking center if Britain were to leave the European Union, Bank of England Deputy Governor Andrew Bailey said on Monday, reports Reuters: http://uk.reuters.com/article/us-finance-summit-bailey-idUKKCN0Y71EW

In a series of interviews, some of the CEOs of 14 U.K. unicorns (startups worth more than $1 billion) expressed a negative opinion on the U.K. leaving the Union or refused to comment on the issue, reports Politico Morning Trade, picking up a story in The Guardian: https://dub129.mail.live.com/?tid=cmpoMMVu0b5hG-B3jjtQh7Qg2&fid=flinbox

The blog "What's in it for Africa?" which looks at EU news from an African perspective, studied the issue and came to this conclusion in a post and video, reports Politico Morning Exchange: https://dub129.mail.live.com/?tid=cmq3DGlwEc5hG2cgAkgYiPzg2&fid=flinbox Among the negative repercussions: the absence of the U.K.'s critical voice against the Common Agricultural Policy, which puts African farmers at a disadvantage, and other trade issues. The video is here: http://bit.ly/27rPSTg

If Britain wants to keep the influence it has in the EU and in the world, then a vote to remain in the EU would be both in our best interests and that of our EU partners, writes Linda McAvan, a British MEP and chair of the European Parliament's Development Committee, in an opinion piece in EurActiv: http://www.euractiv.com/section/development-policy/opinion/tues-what-would-brexit-mean-for-development/?nl_ref=13041649

The far-right candidate for president in Austria has said he does not want an EU membership referendum and he has no plans to exit the euro or Schengen areas, reports EUobserver. In an interview to Die Presse newspaper on Tuesday (17 May), Norbert Hofer tried to express moderate views on the EU and focused on migration: https://euobserver.com/political/133442

Libya's unity government has asked for EU help to train its coastguard and civilian security forces, the EU's top diplomat Federica Mogherini said after international talks in Vienna on Monday. Leading EU countries and the US said they would consider sending arms to help the government fight Islamic State. EUobserver reports: https://euobserver.com/tickers/133441

France and Britain are preparing a UN resolution that would authorise EU ships in the Mediterranean to intercept vessels suspected of carrying weapons to Libya, diplomats said Monday (16 May), reports EurActiv: http://www.euractiv.com/section/global-europe/news/un-proposal-would-ask-eu-ships-to-enforce-libya-arms-embargo/?nl_ref=13041649

A new EU directive that comes into force Friday puts graphic images and warns of impotence on cigarettes packages, reports Politico :

https://dub129.mail.live.com/?tid=cmFYR9Ye0b5hGSR9idZ1x5wg2&fid=flinbox

The EU must defend its technological dominance in the nuclear sector, according to a draft strategy paper from the European Commission, reports Spiegel. Member States should strengthen cooperation on researching, developing, financing and constructing innovative reactors, says the draft for the EU's future nuclear policy to be adopted on Wednesday. EUobserver reports: https://euobserver.com/tickers/133438

A European Parliament vote against granting China market economy status in the World Trade Organization was "not at all constructive", Beijing's foreign minister said yesterday (16 May) as he met his French counterpart, reports EurActiv. The designation would make it much harder for Brussels to fight Beijing over alleged unfair trading practices: http://www.euractiv.com/section/trade-society/news/china-dubs-european-parliament-vote-against-market-status-unconstructive/?nl_ref=13041649

A new poll by Dalia Research, seen exclusively by Politico Morning Trade ahead of publication, indicates that 61 percent of European citizens are still in favor of TTIP [Transatlantic Trade and Investment Partnership] , while only 13 percent are strongly opposed: https://dub129.mail.live.com/?

The Confederation of British Industry cut its economic growth forecasts, citing the approach of the European Union referendum, and retailers and pay experts also pointed to a subdued outlook in other reports published on Monday, reports Politico Morning Exchange: http://uk.reuters.com/article/uk-britain-economy-idUKKCN0Y70HN

Investors are worried about Brexit but aren't preparing for it: Classic stance by slow-moving fund managers. That is the finding of a new survey of 258 U.K. and European fund managers by MSCI. Nearly 40 percent of them say that Brexit would be bad news, but some 46 percent of them say they are making no plans to prepare. Go figure, comments Politico Morning Exchange: https://dub129.mail.live.com/?tid=cmTy1QWjgb5hGYlgAjfeP1pg2&fid=flinbox

Young Europeans have told the New York Times they were worried that they may no longer be able to live and work in Britain [after Brexit]. Entrepreneurs, many of whom flocked to London because of the relative ease of creating start-ups, said they were concerned that they may have to put their business plans on hold: http://www.nytimes.com/2016/05/16/world/europe/brexit-referendum-European-millennials-migrants.html?emc=edit_ee_20160516&nl=todaysheadlines-europe&nlid=74103272

[The] chief executive of Newry and Mourne Co-operative and Enterprise Agency [has told Politico] he worries that campaigners seeking the U.K.'s exit from the European Union in the June 23 referendum haven't given proper consideration to the impact it will have on the Northern Irish economy: http://www.politico.eu/article/northern-ireland-armagh-republic-dublin-irish-border-brexit-stirs-dark-memories/

EU national governments have rallied behind an EU commission proposal to give consumers the right to EU-wide access to digital content they paid for, Reuters reported Friday, as picked up by EUobserver. Currently, when travelling within the EU, subscribers to services like Netflix are often unable to view the same content as at home: https://euobserver.com/economic/133082

Brexit would worsen the EU's "German problem" by making Germany more dominant, according to an opinion piece by Charles Grant, director of the Centre for European Reform, in the FT, picked up by Politico: https://dub129.mail.live.com/?tid=cmo9SQ9iMb5hGwiAAkgYiTUA2&fid=flinbox

You won't be seeing Jean-Claude Juncker, or probably any EU leader, campaigning for Britain to stay in the EU, reports Politico, but that isn't stopping MEPs from countries with millions of EU-enthusiastic Anglophiles filling the gap. Fredrick Federley, the liberal MEP [Swedish Centre Party], is reported to have sent a team of 20 supporters to England to campaign between now and the referendum: https://dub129.mail.live.com/?tid=cmo9SQ9iMb5hGwiAAkgYiTUA2&fid=flinbox

Germany's economy more than doubled its expansion rate in the first quarter as spending picked up, cementing its role as the growth engine for a region in which the effects of high-powered monetary stimulus appear to be gaining traction, reports Reuters. The euro zone's dominant economy grew 0.7 percent, its strongest quarterly rate since an identical reading in the first quarter of 2014 as higher state and household expenditure more than offset a dip in foreign trade: http://uk.reuters.com/article/uk-germany-economy-gdp-idUKKCN0Y40H2

DRAFT IMPACT ASSESSMENT ON TTIP - PRICES WILL RISE, BUT WAGES TOO: The transatlantic pact would provide a boost to the U.S. and EU economies and raise both consumer prices and disposable household incomes, according to a draft report from the European Commission, reports Politico Morning Trade: https://dub129.mail.live.com/?tid=cmOzIUiSMb5hGY5wAhWtfm0A2&fid=flinbox

France and Germany have joined forces to break down British resistance on overhauling the EU's trade defense measures, amid a deepening steel crisis and claims that China is not respecting fair trade practices, reports Politico Morning Trade…A group of 14 countries - among them the United Kingdom, Austria, Belgium, the Netherlands and Finland - has so far blocked..modernization, but against the backdrop of the steel crisis there is reported to be some movement: https://dub129.mail.live.com/?tid=cmOzIUiSMb5hGY5wAhWtfm0A2&fid=flinbox

Also Friday, the European Commission said it has launched a new investigation on imports of Chinese hot-rolled flat steel, raising the number of ongoing trade defense investigations in the steel sector to 10, of which seven are directed at China, says Politico Morning Trade. Thirty-seven other anti-dumping and anti-subsidy measures concerning steel products are already in place: https://dub129.mail.live.com/?tid=cmOzIUiSMb5hGY5wAhWtfm0A2&fid=flinbox

The [European] Commission is expected to come up with specific legislative proposals to limit agricultural [greenhouse gas] emissions before the summer break, reports Politico Morning Agri and Food: https://dub129.mail.live.com/?tid=cmCc7daiMb5hGR7AAhWtez4g2&fid=flinbox