Tag: WTO terms

Summary: ‘WTO terms’ apply in any future UK-EU trade relationship. But how much?

A lot has been said about Britain trading with the EU on ‘WTO terms’. But a fundamental misunderstanding needs to be cleared up. It’s not just about ‘no deal’.

By Peter Ungphakorn
POSTED MAY 27, 2020 | UPDATED MAY 27, 2020

This is a summary of a 3-part article looking at the meaning of “WTO terms” for UK-EU trade in goods, services and more.
The main article is here
.
The series draws partly on a paper from The UK in a Changing Europe

Now that UK-EU trade talks have begun, it’s important to recognise that “WTO terms” will unavoidably apply to the trading relationship — whether or not there’s a deal. It isn’t either/or. It isn’t either a deal or “WTO”, as some people describe it. It’s a question of scale.

The point is: the more the UK and EU trade on WTO terms, the more trade barriers they raise against each other — from a starting position where trade between them has fewer international trade barriers than anywhere else in the world outside the EU. Continue reading “Summary: ‘WTO terms’ apply in any future UK-EU trade relationship. But how much?”

‘WTO terms’ apply in any future UK-EU trade relationship. But how much? Part 1 ‘WTO terms’

A lot has been said about Britain trading with the EU on ‘WTO terms’. But a fundamental misunderstanding needs to be cleared up. It’s not just about ‘no deal’. Part 1 of 3

By Peter Ungphakorn
POSTED MAY 27, 2020 | UPDATED MAY 27, 2020

This first of 3 parts looks at the meaning of “WTO terms” for UK-EU trade. Part 2 is on goods trade. Part 3 is on services, intellectual property and other issues.
A short summary is here
.
They draw partly on a paper from The UK in a Changing Europe

Now that UK-EU trade talks have begun, it’s important to recognise that “WTO terms” will unavoidably apply to the trading relationship — whether or not there’s a deal. It isn’t either/or. It isn’t either a deal or “WTO”, as some people describe it. It’s a question of scale

And that scale determines how many trade barriers go up on trade between the UK and EU — from a starting position where their trading relationship is one of the freest in the world.
Continue reading “‘WTO terms’ apply in any future UK-EU trade relationship. But how much? Part 1 ‘WTO terms’”

‘WTO terms’ apply in any future UK-EU trade relationship. But how much? Part 3 services and more

A lot has been said about Britain trading with the EU on ‘WTO terms’. But a fundamental misunderstanding needs to be cleared up. It’s not just about ‘no deal’. Part 3 of 3

By Peter Ungphakorn
POSTED MAY 27, 2020 | UPDATED MAY 27, 2020

This final of 3 parts looks at UK-EU trade in services
and other issues under “WTO terms”.
Part 1 is on the meaning of “WTO terms”. Part 2 is on goods trade.
A short summary is here
.
They draw partly on a paper from The UK in a Changing Europe

As with goods, if the UK and EU fail to reach agreement, or if the agreement has limited content, UK-EU trade will see new trade barriers in services. Also possible are complications in intellectual property and dispute settlement among other issues. Continue reading “‘WTO terms’ apply in any future UK-EU trade relationship. But how much? Part 3 services and more”

‘WTO terms’ apply in any future UK-EU trade relationship. But how much? Part 2 Goods

A lot has been said about Britain trading with the EU on ‘WTO terms’. But a fundamental misunderstanding needs to be cleared up. It’s not just about ‘no deal’. Part 2 of 3

By Peter Ungphakorn
POSTED MAY 27, 2020 | UPDATED MAY 27, 2020

This second of 3 parts looks at UK-EU trade in goods under “WTO terms”. Part 1 is on the meaning of ‘WTO terms’. Part 3 is on services, intellectual property and other issues.
A short summary is here
.
They draw partly on a paper from The UK in a Changing Europe

If the UK and EU fail to reach agreement, British goods imports from the EU and its exports to the EU will face tariffs and non-tariff barriers. That is not just the result of trading solely on WTO terms. Even with an agreement, some aspects of goods trade will still face the new barriers of trading on WTO terms. Continue reading “‘WTO terms’ apply in any future UK-EU trade relationship. But how much? Part 2 Goods”