In the Nov 12 meeting, a number of WTO members still had concerns about the UK’s (and EU’s) post Brexit commitments, particularly on tariff quotas but also the UK’s other commitments on goods, including the entitlement to trade-distorting domestic support for farmers.
1/5 https://twitter.com/CoppetainPU/status/1326818298781196288
1/5 https://twitter.com/CoppetainPU/status/1326818298781196288
Several countries repeated their demand for additional commitments to compensate for what they see as a loss of the value of market access as a result of the way the UK and EU have divided up the pre-Brexit EU28 tariff quotas.
Explanation: https://tradebetablog.wordpress.com/2018/09/12/happening-tariff-quotas-uk-wto/
2/5
Explanation: https://tradebetablog.wordpress.com/2018/09/12/happening-tariff-quotas-uk-wto/
2/5
Australia, Canada, China, India, Indonesia, Mexico, NZ, Paraguay, US, Uruguay said EU and UK showed “limited engagement” to leave other WTO members “no worse off”. The EU said negotiations are ongoing; the UK said they were conducted in good faith, according to sources.
3/5
3/5
Several also challenged the UK’s right to claim entitlement to:
● up to £4.15bn in trade-distorting domestic farm support, ie, if it affects prices and output
● a “special safeguard” to raise tariffs temporarily to protect farm goods against import surges or price slumps
4/5
● up to £4.15bn in trade-distorting domestic farm support, ie, if it affects prices and output
● a “special safeguard” to raise tariffs temporarily to protect farm goods against import surges or price slumps
4/5
The EU’s Green Deal also caused concern.
Expect more details when the WTO publishes a news story on the November 12 Market Access Committee meeting here:
https://www.wto.org/english/news_e/archive_e/mark_arc_e.htm
5/5
Expect more details when the WTO publishes a news story on the November 12 Market Access Committee meeting here:
https://www.wto.org/english/news_e/archive_e/mark_arc_e.htm
5/5