Re: Epic Fail for Tory Remainers
Originally Posted by
Puddle Duck
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Not too impressed with Bolton calling us 'peasants'. His mother a housewife and father fireman.. (nothing against firemen) but he seems to think we're all la-la, outside the US. ,and he's National Security Advisor.. so what's he plotting ? Don't trust him one iota.
There is a problem with sector-by-sector trade agreements. They are not compatible with WTO rules, which say free trade agreements for goods should cover "substantially all the trade".
There is no formal definition of that term but a figure of 90% has often been suggested.
It is unlikely a deal covering a few sectors would qualify. Other WTO members could start a dispute and would, on the face of it, have every chance of winning.
However, it does not mean it would be impossible. WTO rules are not enforceable in national courts so if the UK and the US wanted to go ahead they probably could.
But it would be a strange move for any country committed to the rules-based global trade system that has the WTO at its heart.
https://www.bbc.com/news/uk-49325620