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+--- Thread: What a No Deal Brexit under WTO Rules looks like (/showthread.php?tid=1235)
What a No Deal Brexit under WTO Rules looks like - Steve - 01-22-2019
Here’s is what a no deal Brexit under WTO rules looks like ....
https://m.youtube.com/watch?v=5DIz9UTmMQk#
What Trading On WTO Rules Actually Means: An Expert's Alarming Explanation.
After this expert told James O'Brien exactly what would happen if Britain starts trading under WTO rules, his response was really concerning.
"I knew this wasn't going to be pretty," he said, "but I didn't think it was going to be this ugly."
Bryce Baschuk, a Bloomberg Correspondent writing specifically about the World Trade Organisation, explained the process for trading on WTO, which Britain would need to do if we leave the EU without a trade deal.
Leading Brexiteers insist that this would be an opportunity for the country, as many countries already trade on these rules with no problem. But Bryce explained how it would work - and as James says, it isn't pretty.
Describing the positives of WTO rules, he said:
"Ideally, the UK would be able to strike new free trade deals with countries such as the US that it believes it wouldn't be able to do with the European Union.”
"In addition, it would have the freedom to not be beholden to the European Court of Justice and have more independence or sovereignty over its trading relations.”
But the method of getting there seems particularly difficult.
Yesterday, both the UK and the EU filed documents in Geneva outlining the terms they will use to trade with the rest of the world after Brexit - and the two submissions are fundamentally different.
Bryce explains:
"The UK is currently a WTO member in its own right. The issue is it does not have an independent schedule of concessions for the WTO - that's the menu upon which Britain trades with the rest of the world. It needs to have that if it's going to strike trade deals. And the way that its approach is different from that of the EU is the UK wants to replicate its current trade WTO commitments by making just a few technical changes and then submitting it to the WTO for certification."
The problem is that the UK's terms at the WTO are enshrined in our membership of the EU, so this approach seems optimistic as our market will be smaller than the EU's market.
https://m.youtube.com/watch?v=5DIz9UTmMQk#
RE: What a No Deal Brexit under WTO Rules looks like - Steve - 07-10-2019
The Truth About What Britain's WTO Trading Rules Will Be - From Man Who Spoke To WTO Chief ...
https://www.lbc.co.uk/radio/presenters/james-obrien/truth-about-uk-wto-trading-rules-no-deal-brexit/
RE: What a No Deal Brexit under WTO Rules looks like - Steve - 07-31-2019
If a no deal Brexit happens, mega corporations could sue the UK government for billions in secret courts ...
https://www.independent.co.uk/voices/brexit-no-deal-court-sue-boris-johnson-corporations-government-a9028936.html
RE: What a No Deal Brexit under WTO Rules looks like - Steve - 11-27-2019
Leaked US trade talks show how Trump is dictating Johnson’s approach to a hard Brexit -
Far from taking back control, Britain has clearly entered into a relationship where we hold none of the cards....
https://www.opendemocracy.net/en/opendemocracyuk/leaked-us-trade-talks-show-how-trump-is-dictating-johnsons-approach-to-a-hard-
READ IN FULL THE UNREDACTED TRADE DOCUMENTS-
https://order-order.com/2019/11/27/excl-read-full-corbyns-unredacted-trade-documents/
RE: What a No Deal Brexit under WTO Rules looks like - Steve - 12-17-2019
Reckless Boris Johnson puts no deal back on the table -
Boris Johnson has put the prospect of a no-deal Brexit firmly back on the table, by introducing a legal provision to bar him from extending negotiations on a trade deal with Brussels beyond the end of next year.
https://www.independent.co.uk/news/uk/politics/brexit-no-deal-boris-johnson-leave-eu-remain-nhs-a9249341.html
Brexit: ‘Reckless’ Boris Johnson puts prospect of no deal back on table
https://www.independent.co.uk/news/uk/politics/brexit-no-deal-boris-johnson-leave-eu-remain-nhs-a9249341.html