A rise in protectionism and increased external uncertainty may compound already existing domestic weaknesses. Latin America cannot run the risk of being unprepared for the significant potential direct and indirect effects of such a menace to its exports, capital inflows and growth.
This paper looks at how the UK can, after Brexit, develop a world-leading trade for development policy. It uses a systematic assessment of how rich country trade policies affect developing countries to identify the leading approaches used elsewhere. It then identifies and describes four key steps: i) eliminating or lowering tariffs; ii) improving preferential access for the very poorest countries; iii) cutting red tape at the border; and iv) enhancing the effectiveness of its aid for trade. These steps would enable the UK to improve substantially on the approach taken by the EU and other countries, benefit UK consumers and businesses, and set a new standard in trade policy for development.