Liam Fox on the customs union, Brexit and Huawei

The transcript discusses the UK's position on remaining in the customs union with the EU, highlighting concerns about being a rule taker and the impact on trade policy. It addresses tariff policies, emphasizing the need to protect UK farmers and ensure food security. The discussion also covers the UK's trade relations with the US and China, advocating for a rules-based system through the WTO and expressing concerns about forced tech transfer and subsidies.

What is a potential consequence of the UK remaining in a permanent customs union with the EU?

• The UK would have unrestricted access to all EU markets.

• The UK would become a rule maker in international trade.

• The UK would have more control over its trade policy.

• The UK would be unable to vary tariffs on goods.

Why is it important for the UK to maintain some tariffs according to the transcript?

• To make industrial production more challenging.

• To protect UK farmers and ensure food security.

• To increase inflation.

• To eliminate all agricultural production.

What is the UK's position on the US tariffs on steel and aluminium?

• The UK believes there are better ways to address trade issues.

• The UK fully supports the US tariffs.

• The UK wants to impose similar tariffs on the US.

• The UK has not expressed any opinion on the tariffs.

What is a key concern for the UK when trading with China?

• The inability to access China's agricultural market.

• The lack of a rules-based trading system.

• The high tariffs imposed by China on UK goods.

• The forced tech transfer and subsidies in China.

What does the UK believe is the best way to handle international trade disputes?

• By imposing unilateral tariffs.

• By ignoring international trade rules.

• By strengthening the WTO.

• Through a deals-based system.