Mapping UK trade policy after Brexit

The new Prime Minister’s delphic pronouncement that “Brexit means Brexit” leaves open a range of options. Under a “hard” scenario, the UK would depend, initially at least, for access to overseas markets on membership of the World Trade Organisation (WTO). This bulletin in our post-referendum series explores the possibilities – and limitations – provided by such an outcome, including the impact on different sectors of the economy.

While various options open the possibility of bilateral deals with non-EU countries, we explain why the UK must give priority to preserving as much as possible of the deep integration it has secured with its biggest trading partner.