WTO here we come!

Brexit may not cause trade disruption with trade partners with whom we already trade on WTO terms. But the 44% of UK exports that are destined for the EU (along with 53% of UK imports) most certainly would be disrupted by a move to WTO terms.

(Those figures exclude trade with countries where the UK benefits from an existing FTA with the EU - those FTAs fall away on brexit day unless they are renegotiated).

UK-EU Trade would only remain a mess if the EU non negotiated schedule to March 2019, continues to put unreasonable ‘Round 1’ demands on the UK, and the more fundamental mutual prosperity of future Trade, last on the agenda.

The UK as a mainly ‘Services’ economy, and the City here is already assuming no ‘passporting’ rights to do financial services business with the EU from London (so moving on average around 20% of their total business that is EU related, to Europe), one would assume that IF the EU is commercially orientated – that an EU that sells far, far more solid ‘stuff’, and of a much higher net cash value TO the UK – would get their ‘stuff together on Trade a lot earlier, as WHAT would the UK be paying a divorce bill premium, for?

If European businesses don’t want to speak up on their own commercial behalf, then so be it, WTO is the only option, and ‘the man from……the WTO’ doesn’t seem to think it will be major problem for parties of good-will – but that’s the problem of a UK-EU trade agreement in the first place e.g. the bottom wipes on the OTHER side, trying to extort tens of Euro billions cash, without the basic respect of a detailed invoice.

“Brexit will not cause UK trade 'disruption' - WTO boss”

”“The head of the World Trade Organisation has vowed to ensure Britain will not face a trade "vacuum or a disruption", however tough its exit from the European Union.”

We are not even prepared for WTO terms. New schedules would need to be agreed and, at least in the medium term, certified.

What a total mess.