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2 posts2 participants1 post today
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Emeritus Prof Christopher May

As Allan Beattie (FT) points out, the framework deal between the US & UK compromises the established governance structures of global trade, by undermining the principle of Most Favoured Nation.

But, as the US as sabotaged the World Trade Organisation's Appellate Body (by refusing to nominate adjudicators), even if a WTO complaint was launched there is no chance it can be adjudicated.

And, concessions given today can be withdrawn as 'negotiation; to a full(er) trade deal continue!

Meanwhile, the most important risk is not to the UK itself but the global trading system. Part of the deal involves reducing protection on imports including ethanol and beef from the US but not from other countries, despite this not being a formal legal trade agreement. The UK has thus undermined the “most favoured nation” principle that underlies the multilateral trading system. Officials strain credibility by claiming it’s compatible with World Trade Organization rules as part of a broader package. If other countries want to kick up a fuss, a WTO dispute settlement hearing may soon be sorting that one out. By accepting that it will continue to face the 10 per cent baseline tariff, the UK has also normalised a deeply regressive move.
#trade#WTO
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Ecu Radio 🇪🇺

#EU vs. #US: The #TradeWar is set to intensify is no mutually beneficial agreement is reached, as the EU threatens US import worth €95 billion and #WTO action otherwise.

The bloc is also on the lookout for new trade partners, aiming to diversify further its trade, disengaging from the US.

Discover the details here 👇
ecuradio.eu/2025/05/eu-vs-us-c

Ecu Radio · EU vs. US: Commission Readies Countermeasures Against US Tariffs, Worth €95 Billion - Ecu RadioOne month after Liberation Day, the EU Commission now readies countermeasures Against US Tariffs for a total value of €95 Billion. Read more.
#EUstrong#Trade#SingleMarket
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Thế Giới Trong Tầm Tay

Cuộc họp các Bộ trưởng Ngoại giao BRICS tại Rio nhấn mạnh sự cần thiết của thương mại công bằng và chủ nghĩa đa phương. Họ kêu gọi cải cách WTO để chống lại các biện pháp bảo hộ đơn phương và khẳng định tầm quan trọng của hợp tác toàn cầu. #BRICS #ThươngMạiCôngBằng #ĐaPhương #WTO ift.tt/K5R4c0Q

Thế Giới Trong Tầm Tay - Thế giới của bạn, tin tức của bạn, cách bạn muốn · Cuộc họp BRICS tại Rio ủng hộ thương mại công bằng và chủ nghĩa đa phương - Thế Giới Trong Tầm Tay
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