Trade agreements do more than just reduce tariffs. They also include rules that make it easier for countries to trade with each other. A study found that these rules, like those related to services and competition, have a big impact on trade. In fact, they make up half of the overall effect of trade agreements on trade flows. These rules are especially important for services like transportation and storage. If the UK signs deals with the US, China, and India that include these rules, it would boost trade in professional, scientific, and technical activities.