TRADE AGREEMENT

On 24 December 2020, the European Commission and the UK reached an Agreement in principle, on the terms of their future cooperation. The deal has been agreed just in time, as the transition period – which has allowed the UK and the EU to function as before, on the basis of a single market – will end on 31 December 2020, ending free movement. More

Leaders of 15 Asia-Pacific nations signed the Regional Comprehensive Economic Partnership (RCEP) trade deal on 15 November. The wide-ranging treaty establishes a trade area that extends across a third of the world’s population and economic output. More

The EU-Vietnam trade agreement (“Trade Agreement”) has, earlier this month, entered into force. The immediate consequence of this is lower tariffs, with the ultimate goal of scrapping duties on 99% of all goods traded between the two sides. In addition to providing economic benefits, the Trade Agreement expresses a strong commitment on both sides to respect labour rights, environmental protection and the Paris Agreement combatting climate change. More

U.S. Trade Representative Robert Lighthizer recently updated Congress on on-going and potential U.S. trade negotiations. Among other things, he acknowledged that mainland China is not currently on pace to buy the amounts of U.S. agricultural and energy products that were agreed under the phase one trade agreement, due at least in part to the economic ramifications of the COVID-19 pandemic. More