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The limits of `possibility': Splitting the lamb-mutton quota for the UK and EU-27 - Trade β Blog
An exercise in applying the "latest 3-year average" rule to the tariff quota on lamb and mutton. International Trade Secretary Liam Fox has announced the UK will "replicate as far as possible" the EU's commitments in the WTO. This is a sound approach. But how far is "as far as possible"?

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Sat Jan 7th, 2017 at 12:32:01 AM EST
I have read through quite a few links from your quote and am little the wiser as to how the UK/EU can disentangle their WTO commitments.  The requirement for consensus and the huge number of interested parties involved seems to make any kind of agreement in any kind of time-frame impossible to predict. It is also not clear what will happen in the interim period between the UK leaving the EU and some kind of agreement being reached.  The only conclusion I can reach is that I wouldn't want to be a UK farmer right now - their future is very uncertain indeed.  Also I wouldn't want to be a banker or supplier extending credit to UK farmers. The only people who should be happy are the lawyers...

Index of Frank's Diaries
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Sat Jan 7th, 2017 at 01:22:22 AM EST
[ Parent ]
Frank, you are the only person I know on the web writing about the WTO issue. If I am allowed to, I would ask you to dive further into this issue on one of your next writings.

You might find me At The Edge Of Time.
by Luis de Sousa (luis[dot]a[dot]de[dot]sousa[at]gmail[dot]com) on Sat Jan 7th, 2017 at 07:13:55 PM EST
[ Parent ]
how far is "as far as possible"
Newspeak for 'as little as we feel like and can get away with'

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty
by melo (melometa4(at)gmail.com) on Sat Jan 7th, 2017 at 11:32:33 PM EST
[ Parent ]
If you follow the links you very quickly get into the weeds of how quotas and tariffs are calculated and allocated to different countries/suppliers and the whole system seems very complex and, in parts, opaque. What Fox appears to be saying is that the UK will be looking for a proportionate share of current EU quotas but precisely how that proportionality is calculated is anything but straight forward and open to disagreement and negotiation and may even re-open the can of worms of how they were arrived at in the first place with new countries/suppliers trying to get in on the act and making agreement very difficult.

Who'd have thunk free trade could be so complicated?

Nigel Farage, who likes to extol the wonderful free trade opportunities awaiting the UK outside the EU, and who also likes to accuse fellow parliamentarians of "never having done a days real work in their lives" has probably never read a trade agreement, never mind negotiated one. They are hideously complex...

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Sun Jan 8th, 2017 at 12:21:06 AM EST
[ Parent ]
The thing about "free" trade is that it always was just a PR term with very little about it being free. And lately the "trade" part has also earned scare quotes.
Turns out there are problems that PR can't solve.
by generic on Mon Jan 9th, 2017 at 07:36:36 AM EST
[ Parent ]
and this is just one form of trade, will be the same for evry other item, and some will depend on others, "if you get an increase quota of lamb then we need this part of your quota on Mangos, but country Y will want you to do this deal on machine tools if you do this deal on mangos" and round and round we go taking extra time

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Jan 10th, 2017 at 02:09:56 PM EST
[ Parent ]


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