Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Again. I think it prudent to examine tables in the WTO's 2017 publication in order to obtain at least a more accurate understanding of bound and applied rates in effect AND ratio of premia >15% (applied to scheduled G&S) by signatory.

EU's ratio is extremely low --AS IS "free trade" commitment-- by comparison to that which so-called developing nations impose on imports from any and all trade "partners". And you can bet that 0.4 summarizes trade sanctions imposed on NATO's "adversaries."

Compare that benchmark to current costs of EU interstate tariffs which the UK loses as "third-country". Between member countries customs duties are forbidden. EU need not declare a new CCT regime in order for UK gov't to appreciate the "disadvantages" of out-group, international sovereignty ... unless the UK gov't declares itself a NATO adversary. Then you may expect a truly frosty welcome to the "special relationship."

But whichever cost the other 99.6% bear is sufficient to tip the UK into a permanent state of insanity or piracy. As it is, no one can say if the gov't has prepared for any EU demand for reimbursement of the cost of inspection and compliance (abrogated by UK in its retarded position paper) on to the balance of charges on EU budget outstanding.

For example in March OLAF slammed lax UK border controls and recommended the European Commission reclaim €2 billion the agency said was lost because Britain had failed to apply the correct EU duties on imports of Chinese clothes and footwear in recent years.

Then, there's the whole move of euro-denominated R&D and derivatives trading out of the City. ISDA shure as shinola isn't paying for that.

Diversity is the key to economic and political evolution.

by Cat on Mon Aug 21st, 2017 at 08:50:01 PM EST
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