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UK discovers WTO rules make world trade more difficult than it was while an EU member


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Posted (edited)

Remember the "WTO rules" that some Brexiters say we should trade under, with the EU and other countries?  The UK is finding that, now it no longer shares the bargaining power of the EU, it is forced to accept the trade rules the WTO impose on it- which means the UK has to accept our steel industry being undercut by cheaper imports from around the world, while previously the industry enjoyed the same protection as EU countries. Well, who would have thought leaving our largest, nearest,  and most important trading partner would cause trade problems? Not the Brexiters, obviously.

Boris Johnson has said he is considering extending steel tariffs, despite concerns the move could break international rules and put him on course for another major row with the EU.

The prime minister is reportedly drawing up plans to slap “safeguard” limits of steel imports from several developing countries, and extend existing tariffs already imposed on China and others.

But critics have warned the move to widen tariffs will “violate” World Trade Organisation (WTO) rules, with the EU ambassador to Britain warning against any “protectionism”.

Lord Geidt, the PM’s ex-ethics adviser, cited steel tariff plans in his resignation letter earlier this month – saying he had been put in the “odious position” of being asked to license a breach of the rules.

Mr Johnson said on Sunday he wanted UK steel to enjoy the “same protections” other EU steel economies have – arguing that the industry was going through a hard time due to energy prices.

 

UK plan to impose ‘unlawful’ steel tariffs sparks fresh clash with EU | The Independent

Edited by The Silver Shroud
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  • The title was changed to UK discovers WTO rules make world trade more difficult than it was while an EU member
 

Short sightedness and xenophobia are their own punishments.

Careful what you wish for... Brexiteers.

 

It's rather harsh to recognize that the old xenophobically minded folks who voted for this won't have to live with and through the long term ramifications of their rash, short sighted actions.  You really did a number on your next generations with this one it seems...

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5 hours ago, The Silver Shroud said:

Remember the "WTO rules" that some Brexiters say we should trade under, with the EU and other countries?  The UK is finding that, now it no longer shares the bargaining power of the EU, it is forced to accept the trade rules the WTO impose on it- which means the UK has to accept our steel industry being undercut by cheaper imports from around the world, while previously the industry enjoyed the same protection as EU countries. Well, who would have thought leaving our largest, nearest,  and most important trading partner would cause trade problems? Not the Brexiters, obviously.

Boris Johnson has said he is considering extending steel tariffs, despite concerns the move could break international rules and put him on course for another major row with the EU.

The prime minister is reportedly drawing up plans to slap “safeguard” limits of steel imports from several developing countries, and extend existing tariffs already imposed on China and others.

But critics have warned the move to widen tariffs will “violate” World Trade Organisation (WTO) rules, with the EU ambassador to Britain warning against any “protectionism”.

Lord Geidt, the PM’s ex-ethics adviser, cited steel tariff plans in his resignation letter earlier this month – saying he had been put in the “odious position” of being asked to license a breach of the rules.

Mr Johnson said on Sunday he wanted UK steel to enjoy the “same protections” other EU steel economies have – arguing that the industry was going through a hard time due to energy prices.

UK plan to impose ‘unlawful’ steel tariffs sparks fresh clash with EU | The Independent

What a load of blatant lies.

The original members of the ECC formed after they had setup investment bodies to invest internally into their own markets. The rules for later joiners were that they aren`t allowed to setup such bodies. The UK joined with no such investment body.

Hence, when China dumped its surplus of steel onto the global market the UK government could neither invest in or grant a short-term load to Tata Steel. The only options being bankruptcy or find an outside investor to take it over.

Now we are out of the EU the UK Government can invest in and give loads to help out normally profitable industries that need it.

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Posted (edited)
42 minutes ago, Cookie Monster said:

What a load of blatant lies.

......

Now we are out of the EU the UK Government can invest in and give loads to help out normally profitable industries that need it.

No one is lying.

You are right, the UK government can do what it likes, as it is planning to do over the Protocol.

But it cannot renage on international treaties and rules without consequences.

No country has yet complained to the WTO that the UK is giving preferential treatment to the EU by allowing imports from the EU to enter freely without checks- but they may, anytime (under WTO rules counties cannot offer preferential trade arrangements).

Once the UK comes into conflict with both the WTO and the EU through deregulation and not maintaining the "level playing field", the international trade it can do will become constricted.  But since our farmers are scaling back their production by about 20% due to labour shortages and our manufacturing continues to decline, the effect will be a gradual contraction of our economy (perhaps more than the 4% forecast by the governments OBR because that model assumed we would not start breaking international law).

It has nothing to do with anyone lying or being unfair.It is just Project Fear becoming Project Reality.

 

Edited by The Silver Shroud
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Posted (edited)
26 minutes ago, The Silver Shroud said:

No one is lying.

You are right, the UK government can do what it likes, as it is planning to do over the Protocol.

But it cannot renage on international treaties and rules without consequences.

No country has yet complained to the WTO that the UK is giving preferential treatment to the EU by allowing imports from the EU to enter freely without checks- but they may, anytime (under WTO rules counties cannot offer preferential trade arrangements).

Once the UK comes into conflict with both the WTO and the EU through deregulation and not maintaining the "level playing field", the international trade it can do will become constricted.  But since our farmers are scaling back their production by about 20% due to labour shortages and our manufacturing continues to decline, the effect will be a gradual contraction of our economy (perhaps more than the 4% forecast by the governments OBR because that model assumed we would not start breaking international law).

It has nothing to do with anyone lying or being unfair.It is just Project Fear becoming Project Reality.

 

Your lie - `which means the UK has to accept our steel industry being undercut by cheaper imports from around the world, while previously the industry enjoyed the same protection as EU countries.`

I hope it was due to a lack of knowledge, but with your bias I`m not so sure lol.

Edited by Cookie Monster
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Posted (edited)
2 hours ago, Cookie Monster said:

Your lie - `which means the UK has to accept our steel industry being undercut by cheaper imports from around the world, while previously the industry enjoyed the same protection as EU countries.`

I hope it was due to a lack of knowledge, but with your bias I`m not so sure lol.

The prime minister is reportedly drawing up plans to slap “safeguard” limits of steel imports from several developing countries, and extend existing tariffs already imposed on China and others.

But critics have warned the move to widen tariffs will “violate” World Trade Organisation (WTO) rules, with the EU ambassador to Britain warning against any “protectionism”.

“I think it is reasonable for UK steel to have the same protections that other European, absolutely every other European steel economy does,” he told reporters at the G7 summit in Germany.

The PM added: “The difficulty is, is that possible to do while staying within our WTO, our World Trade Organisation obligations? That’s the problem. But these are tough choices that you have to make.” (The Independent)

So you know better than the PM, who has advisors? How is it possible,in your view, to trade under WTO rules but at the same time disregard them? Under WTO rules we have to accept imports as internationally agreed. That's the whole point of trade rules, whether they are EU trade rules, WTO trade rules, and that's why we want to make trade agreements with large economies. We have struck disasterous trade deals with Australia and New Zealand, the US isn't interested in the UK at any price. 

The UK's economy is already forecast to collapse second only to Russia (Russia due to sanctions imposed over Ukraine, our sanctions are self-imposed). Imagine the damage if international sanctions are applied to the UK because it has gone rogue.

UK growth set to be worst in G20 apart from Russia, OECD warns | Financial Times (ft.com)

Edited by The Silver Shroud
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2 hours ago, The Silver Shroud said:

The prime minister is reportedly drawing up plans to slap “safeguard” limits of steel imports from several developing countries, and extend existing tariffs already imposed on China and others.

But critics have warned the move to widen tariffs will “violate” World Trade Organisation (WTO) rules, with the EU ambassador to Britain warning against any “protectionism”.

“I think it is reasonable for UK steel to have the same protections that other European, absolutely every other European steel economy does,” he told reporters at the G7 summit in Germany.

The PM added: “The difficulty is, is that possible to do while staying within our WTO, our World Trade Organisation obligations? That’s the problem. But these are tough choices that you have to make.” (The Independent)

So you know better than the PM, who has advisors? How is it possible,in your view, to trade under WTO rules but at the same time disregard them? Under WTO rules we have to accept imports as internationally agreed. That's the whole point of trade rules, whether they are EU trade rules, WTO trade rules, and that's why we want to make trade agreements with large economies. We have struck disasterous trade deals with Australia and New Zealand, the US isn't interested in the UK at any price. 

The UK's economy is already forecast to collapse second only to Russia (Russia due to sanctions imposed over Ukraine, our sanctions are self-imposed). Imagine the damage if international sanctions are applied to the UK because it has gone rogue.

UK growth set to be worst in G20 apart from Russia, OECD warns | Financial Times (ft.com)

Do I really have to give a history lesson? Sigh.

`absolutely every other European steel economy does` - study the original 6 members of the ECC then re-read my first reply. I also underlined steel economy for you which are the original 6. 

I`m not interested in forecasts, forecasts which have routinely been wrong since the Brexit vote. But in this case I notice you have heavily distorted what the OECD did forecast too: UK to see slowest growth of developed countries, says OECD - BBC News. Where is the economic collapse? What in Gods name are you on about? It says in the G7 we are forecast to go from the 2nd fastest growing economy this year to 7th next year.

The link I have posted there also says `However, the report does not take into account the chancellor's emergency measures announced on 26th May. Those measures, which included a £400 energy bill discount for every household in the UK, are worth around £15bn` which highlights a key point about forecasts. They don`t include what policies a government will introduce, or just introduced, in their scenario forecasts as they dont know them.

I`m sorry to burst the bubble of the alternate dimension you live in where Brexit is this wholly negative end of the UK monstrosity, but you sir, have absolutely no idea (as usual) what you are talking about!!!!!!! lol

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6 hours ago, Cookie Monster said:

 

I`m not interested in forecasts, ....

....

Fair enough. None of them are good. I was just asking you if you can justify the Brexiter position of saying WTO rules are better than EU rules, then trying to get avoid them. You can't.

I'm well aware trading under WTO rules is inferior to belonging to the EU, I'm just amused at the the Brexiter response to trade difficulties- just ignore them. The way the UK is ignoring it's obligation to impose customs checks on imports, and trying to ignore the NI Protocol it said was so wonderful in December 2021. Even Rees Mogg aknowledges the best Brexit is one in which we try to ignore it- but that is only a temporary solution. The UK will have to eventually face up to the hole it has dug itself into.

Don't bother to answer, you have shown many times you have very little understanding of Brexit.

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Posted (edited)

The Times is interested in forecasts, though:

But as the sixth anniversary of the UK’s vote to leave the EU approaches, economists are starting to quantify the damage caused by the erection of trade barriers with its biggest market, separating the “Brexit effect” from the damage caused by the Covid-19 pandemic. They conclude that the damage is real and it is not over yet.

The Office for Budget Responsibility, the official British forecaster, has seen no reason to change its prediction, first made in March 2020, that Brexit would ultimately reduce productivity and UK gross domestic product by 4 per cent compared with a world where the country remained inside the EU. It says that a little over half of that damage has yet to occur.

That level of decline, worth about £100bn a year in lost output, would result in lost revenues for the Treasury of roughly £40bn a year. That is £40bn that might have been available to the beleaguered Johnson for the radical tax cuts demanded by the Tory right — the equivalent of 6p off the 20p in the pound basic rate of income tax.

The deafening silence over Brexit’s economic fallout | Financial Times (archive.ph)

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:sleepy:

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Posted (edited)
On 6/26/2022 at 11:21 AM, quiXilver said:

Short sightedness and xenophobia are their own punishments.

Careful what you wish for... Brexiteers.

 

It's rather harsh to recognize that the old xenophobically minded folks who voted for this won't have to live with and through the long term ramifications of their rash, short sighted actions.  You really did a number on your next generations with this one it seems...

Oh grow up. Voting to get out of a European political union that nobody ever even voted to join in the first place, but has been imposed on us through stealth without our consent, has got absolutely nothing to do with xenophobia. That's just an easy cop out for you Remoaners to arrogantly smear those you disagree with.

You lot portray the UK as some insignificant little backwater that cannot possibly survive without the EU. You only have to look at the Queen's recent Platinum Jubilee celebrations. Visitors and TV crews from across the globe in the UK just to be there for the event, and what's more, they were happy to be there, the celebrations being beamed live across the entire planet to those that couldn't be there, the beautiful sight of our flag proudly displayed across the whole nation, and what's more, no sign of that disgusting blue rag with its dismal wreath of yellow stars on it anywhere.

I bet you couldn't even name one single EU vassal "state" that could attract that much adoring international attention from the rest of the planet could you. Go on, name just one.

If the UK was actually the hate-filled, racist infested, filth-ridden hellhole you lot portray it as then why would anybody want to even bother to go there to visit in the first place? Why would all those racists you claim infest the UK even welcome those millions from all across the planet into their country to be a part of such a historic event? 

Edited by So Far Away
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:rofl:  Must have hit close to home to get you so riled up...

                                    :st

 

enjoy your day... mate

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22 minutes ago, quiXilver said:

:rofl:  Must have hit close to home to get you so riled up...

                                    :st

 

enjoy your day... mate

Talking of... 'hate-filled, racist infested, filth-ridden hellhole'!!! 

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Posted (edited)
54 minutes ago, quiXilver said:

:rofl:  Must have hit close to home to get you so riled up...

                                    :st

 

enjoy your day... mate

Not at all, but it must have hit a nerve with you in order for you to reply with such a dismissive flippant response instead of rising up to the challenge of at least trying to name one single EU vassal "state" that could even attract that much adoring international attention from the rest of the planet. Go on, I challenge you to name just one.

Edited by So Far Away
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