These efforts should build on the unprecedented co-operation between government and business during the crisis and be linked to wider domestic policies to rebuild the UK economy.
The international health crisis of coronavirus has had a dramatic impact on international trade, with steep falls in trade volumes, significant interruptions in supply chains and proliferation of trade restrictions.
In the short-term, to help international trade restart the UK economy, priorities are keeping trade moving or maintaining capacity for when recovery comes.
In the medium-term, to help international trade revive the UK economy, priorities remain securing trade continuity with a comprehensive EU trade deal which avoids significant new burdens on UK exports of goods and services, continuity of UK’s existing trade deals and short-term commercial wins to boost confidence and generate growth.
In the longer-term to help international trade renew the UK economy, priorities are implementing a 10-year strategy for the UK’s newly independent trade policy and, on a global level, promoting resilience through digital and low-carbon and reforming institutions like the WTO.
It is not yet clear how long the crisis will last and how severe it will be. But in any scenario, government and business should work together to make the case for trade.
Take a look at the CBI’s response in full here, and for further information please get in touch with a member of the CBI’s International Trade Team.