Brexit and the External Trade Policy of the EU

Abstract

Brexit is a huge challenge with enormous consequences for future UK trade policy. But it will also have an impact on the common external trade policy of the EU, and, thus, on one of the core components of EU foreign policy. This contribution analyses Britain’s role in the formulation of EU trade policy and the likely repercussions of its departure, particularly regarding the effectiveness of the EU as trade negotiator and the preferences it represents internationally. I use three theoretical lenses to address these questions: the first lens focuses on likely changes in the material power and interests of the EU; the second looks at the institutional consequences of Brexit for the formulation of EU foreign trade policy, and the third addresses potential changes in external perceptions of the EU as a trade power. It will be argued that neither the effectiveness of the EU as global trade power, nor the substance of its interests, will change substantially.