In the event of 'no deal' on 29th March we lose access to three lots of trading agreements -
We lose all trading arrangements with the EU 27 countries and these would revert to WTO default tariffs.
We also lose all other third-party trading arrangements that have been negotiated between the EU and other countries and trading blocs that we currently use and these would revert to WTO default tariffs .
We also lose all WTO schedules and quotas that have been negotiated by the EU with other countries and trading blocs which we currently use and these would revert to WTO default tariffs .
However, it is correct that we can use the WTO default Tariffs.
The EU schedules we currently use, have negotiated tariffs and quotas, which are used as a method of controlling volumes of trade (a quota at one tariff, and then anything over that quota at a second, normally higher tariff). There are no default WTO quotas with which to control volumes, only simple tariffs.
This means that not only will we be charging the highest possible tariffs on all imports, but the EU will start charging us tariffs on all goods exported to them and have no control over volumes.
Some WTO default tariffs (the breakdowns of the various product groups are huge and run to pages and pages, as you can imagine) but in summary
Cereals & Meat - 45-50%
Processed foods - 25%-35%
Clothes - 12%
Footwear - 10%
Vehicles - 9%
One small example - Currently 95% of our lamb exports go to the EU and these will be subject to a tariff of 50% from day 1.
This is why there is no country in the world that trades solely on WTO default tariffs. Mauritania were the last but has joined the Economic Community of West African States, and it now has preferential trade arrangements with some 20 WTO members (including, I believe the EU).
So anyone who says that there will be no change to trade is quite simply stupid or lying (or, quite possibly, both)
In the event of 'no deal' on 29th March we lose access to three lots of trading agreements -
We lose all trading arrangements with the EU 27 countries and these would revert to WTO default tariffs.
We also lose all other third-party trading arrangements that have been negotiated between the EU and other countries and trading blocs that we currently use and these would revert to WTO default tariffs .
We also lose all WTO schedules and quotas that have been negotiated by the EU with other countries and trading blocs which we currently use and these would revert to WTO default tariffs .
However, it is correct that we can use the WTO default Tariffs.
The EU schedules we currently use, have negotiated tariffs and quotas, which are used as a method of controlling volumes of trade (a quota at one tariff, and then anything over that quota at a second, normally higher tariff). There are no default WTO quotas with which to control volumes, only simple tariffs.
This means that not only will we be charging the highest possible tariffs on all imports, but the EU will start charging us tariffs on all goods exported to them and have no control over volumes.
Some WTO default tariffs (the breakdowns of the various product groups are huge and run to pages and pages, as you can imagine) but in summary
Cereals & Meat - 45-50%
Processed foods - 25%-35%
Clothes - 12%
Footwear - 10%
Vehicles - 9%
One small example - Currently 95% of our lamb exports go to the EU and these will be subject to a tariff of 50% from day 1.
This is why there is no country in the world that trades solely on WTO default tariffs. Mauritania were the last but has joined the Economic Community of West African States, and it now has preferential trade arrangements with some 20 WTO members (including, I believe the EU).
So anyone who says that there will be no change to trade is quite simply stupid or lying (or, quite possibly, both)
He's to wrapped up in his own self importance to do that ,Like most of the grizzlers they know best , so much so they can see years into the future and predict doom and gloom for eternity, you couldn't make it up...………... hold on they have been ,project fear
and that's it in a nut shell , the establishment and the liberal elite getting a slap in the face, boo hoo, boo hoo it's not fair we live in London
I'm afraid I do know exactly what is happening and getting a bit pissed off with being disturbed at half time
The British negotiations with the WTO have been at a halt for the last month and a half due to Russia and 20 others objecting to the schedules we submitted. As I'm sure you're aware we can appeal to the Appellate Body, except for the fact that the USA have been objecting to appointing judges to this body for a while and there are now insufficient numbers to hear appeals. So no chance of a hearing before March 29th 2019 and probably not before 2021
The 'Transition trade agreement' is what and between whom exactly ?
I thought that a person such as yourself who 'owns a business with $1M imports a year' would be well on top of this and certainly wouldn't need any advice from me
Oh well, back to the football - Up The Albion
Yeah, because nothing screams ‘anti establishment’ like Nigel Farage
In that case can you give us a heads up on any new agreements like the Swiss deal? As you know exactly what is happening, I am a bit disappointed you didn't announce that was going to happen on here, before it did happe (GO ON THE DUFFY!!)
the EU are, they'll 'probably be looking down the barrel of a gun in the future as it all falls apart at the seams for them
I never mentioned him ?, maybe people have had enough of the current trends in politics, no surprise people are making moves in certain quarters , surprised by that
so glad we will be out of it to be fair, common agricultural policy to EU dictatorship what's no to like ?
regards
DR
of course it was a finger up to them, also i'm not bothered with your views on Farage only to say he knows how to ruffle a few feathers and tells it how it is, fair play to the man
Jesus wept if you think how Farage tells it is ‘how it is’
He tells it how it is...
