Fox fires Brexit trade WARNING at EU: If you erect barriers - you'll SUFFER
LIAM Fox has hit out at EU leaders warning that imposing new tariff barriers with the UK after Brexit will make their own economies less competitive.
David Davis insists the UK will 'lead a global race to the top'
The Trade Secretary was speaking today at an EEF manufacturers’ association conference in London about his vision of Britain’s trading future.
Dr Fox said the Government was committed to protecting the interests of British exporters in the Brexit negotiations. He said that any attempt by the remaining EU27 to create new barriers to trade would end up hurting them instead.
He said: ”This Government opposes erecting barriers to trade where none yet exists, or disrupting the commercial relationships that exist between this country and our continental partners.
"If Europe erects barriers to trade and investment that do not exist today, it will make Europe less competitive in a global context and less attractive to international investors."
Dr Fox said the Government's Brexit legislation would enable Britain to continue the EU's trade arrangements with third countries.
He said: ”It will also give us the tools we need to fight back against any unfair subsidies or dumping from abroad.
"We want to protect the interests of British manufacturers. We want to maintain your access to markets across Europe and beyond."
The Trade secretary also revealed plans to trade with Africa and growing economies once we leave the bloc.
He said: “We know the UK is in a unique position to partner with growing countries and manufacturers stand ready to grow.
“We are laying the groundwork for new trade opportunities for trade in Africa and other growing economies.”
Today I'm speaking at @EEF_Insights Manufacturing Conference. UK’s modern, dynamic and innovative manufacturing industry exports to markets around the world - ONS stats released last month show manufacturing output reached its highest level in 10 years #EEF2018 pic.twitter.com/M3MLYa0Nyh
— Dr Liam Fox MP (@LiamFox) February 20, 2018
His comments come after Brexit Secretary David Davis reassured European leaders the UK will commit to the highest regulatory standards after Brexit which should mean minimum barriers to trade with the EU will be erected.
During a speech in Austria today, he said: “The agreement we strike will not be about how to build convergence but what to do when one of us wants to make changes to rules.
"Neither side should put up unnecessary barriers during this process. A crucial part of any such agreement is the ability for both sides to trust each other’s regulations and the institutions that enforce them.
"Such mutual recognition will naturally require close, even-handed cooperation between these authorities and a common set of principles to guide them.
"And the certainty that Britain’s plan, its blueprint for life outside of Europe, is a race to the top in global standards not a regression from the high standards we have now, can provide the basis of the trust that means that Britain’s regulators and institutions can continue to be recognised.”