WTO

[awaybreaktoday]

What happens if a country cant agree WTO terms?

Taiwan today became the latest country to object officially to the UK's proposed new WTO schedule. With 8 points of contention.

No Deal - WTO option simply will not be ready any time soon - I highly doubt within the next year - even if we were prepared to accept the disaster that it would cause.

 

[Malevolence]

\o/ yay, Brexit. \o/

 

[awaybreaktoday]

No BREXIT talk please.. Just WTO membership issues.

 

[Rroff]

I'm probably wrong but I thought a country just adopted (and had to abide by) default WTO rules in that case - which is very literally starting from the bottom in a disadvantaged position but does give you scope to work upwards.

(A country like the UK which has gained so much from legacy reasons, etc. is highly unlikely to ever work its way back up to anything like we have today via starting again from the bottom under WTO).

 

[awaybreaktoday]

I'm probably wrong but I thought a country just adopted (and had to abide by) default WTO rules in that case - which is very literally starting from the bottom in a disadvantaged position but does give you scope to work upwards.

(A country like the UK which has gained so much from legacy reasons, etc. is highly unlikely to ever work its way back up to anything like we have today via starting again from the bottom under WTO).

thing is over 30 countries have already objected to our terms.. this is a serious problem. countries include Russia, China, USA, Japan.. These are major countries....

I am unsure if you are a member even if you just adopted rules?

 

[Rroff]

thing is over 30 countries have already objected our terms.. this is a serious problem. countries include Russia, China, USA, Japan.. These are major countries....

I am unsure if you are a member even if you just adopted rules?

Unknown territory for me as well but I assumed that countries can't object to another country joining the WTO on default rules, only if they are seeking other terms and it takes years and years to negotiate anything else from there.

 

[awaybreaktoday]

Unknown territory for me as well but I assumed that countries can't object to another country joining the WTO on default rules, only if they are seeking other terms and it takes years and years to negotiate anything else from there.

So basically services sector would be screwed without free trade agreements?

 

[Rroff]

So basically services sector would be screwed without free trade agreements?

I don't really know when it comes to WTO. But specific to the UK there are a lot of reasons involving Brexit :s

 

[FoxEye]

What happens if a country cant agree WTO terms?

https://www.explaintrade.com/blogs/2018/11/22/uk-wto-schedules-whats-going-on-now

I at least partially understood that