Tariffs mean people at home pay more for the things they use every day, and the businesses that we rely on to drive our economy will pay more to manufacture products with components from overseas. Tariffs are a nice euphemism, but in truth are simply a tax on imports - an impediment to that prosperity, with far-reaching consequences. The consensus is clear: open and competitive markets are the most efficient vehicle for delivering the prosperity we all want. Tariff and non-tariff barriers have been thrown up as countries try to defend or support domestic industries.Įconomists rarely agree on anything, but there is a near-universal conclusion that protectionism of this nature only ever leads to a dead-weight loss. Somewhat alarmingly, we appear to be moving in precisely the wrong direction.įor the first time in decades, the system of free, fair, rules-based international trade which underpins our global prosperity is under attack.Įver since the financial crisis of 2008, G20 countries have been taking steps which limit market access. We need to redouble our efforts to promote an open, efficient and transparent trading environment. If we are make the most of the opportunities for future global prosperity in front of us, it’s essential that we draw up a new set of rules governing key areas such as e-commerce and cross-border data flows, and tackle head-on the obstacles to digital trade such as data localisation. The WTO estimates that while services comprise around two-thirds of global GDP and almost half of employment - and nearly half of world trade on a value-added basis - the barriers to trade in services are around as large as those in goods half a century ago.įor the UK, as a services-orientated economy - and the world’s second largest services exporter - this clearly needs to change if we are to realise our potential as a truly Global Britain. Services are now a larger part of the world economy than ever before. This has changed the game for everyone, from the largest corporations, to the thousands of small companies who have never before been able to trade internationally. It is part of the challenge we face in a rapidly changing world of trade.įor example, we are in the middle of a revolution in e-commerce, and the digital economy is now a major part of global trade. If you do not understand the complexity and importance of global value chains you will fail to set the appropriate policy frameworks. If you measure trade merely in gross terms as a single transaction based on the final price you are missing the point. IPhones are just one example of the complex and integrated supply chains across the global economy, where design and build can take place across a range of countries, with each step along the way adding value to the final product. It reads: “Designed by Apple in California. The writing’s minute so you’re going to need pretty good eyesight, but I can assure you that I’m not here to give you an eye test. Take it out, turn it over and tell me what it says on the back. Other rumoured improvements include new multitasking tools, improvements to the Mail and Safari apps, new font management tools and a new volume display.I’d like to start with an exercise. This should offer an improvement over the current gesture, which requires users to physically shake their device to undo their last action. There's also reportedly a new "undo" gesture, which will allow users to undo and redo their last action by tapping the keyboard area three times and then sliding left or right respectively. IOS 13 will include a number of major changes including the long-awaited "dark mode", which turns the display's background black to save battery life and make prolonged use easier on the eyes. The new iOS operating system for iPhones, iPads and iPod Touches is expected to be the main focus of the keynote event. Here's what to expect at WWDC 2019: iOS 13 Occasionally Apple unveils a new piece of hardware at WWDC, but don't expect to see a new iPhone - that won't be coming until September. However, the event is primarily for developers, to give them a chance to develop apps for the new operating systems before they go live to the public later in the year. The keynote address will take place at the San Jose McEnery Convention Center in California, at 10am PST (6pm BST) on Monday, June 3.Īpple usually uses the summer event to show off the latest versions of iOS for iPhone and iPad, MacOS for Mac computers, watchOS for Apple Watch and tvOS for Apple TV. Apple's annual Worldwide Developers Conference kicks off today with a keynote by CEO Tim Cook, who is expected to reveal software upgrades for the company's iPhones, iPads and Mac computers.
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