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Could Article 24 be involved anyway? | Bloomberg - June 25, 2019 |

Liam Fox, the U.K. trade secretary and a Brexiteer, has rejected the approach. Bank of England Governor Mark Carney has repeatedly said Article 24 only applies if two trading partners have already agreed to a trade deal. After Johnson insisted that it could work in a no-deal scenario, Carney spelled it out again on June 26. The EU has repeatedly said that it won't engage in mini-deals if the withdrawal agreement isn't ratified, meaning tariffs would be imposed as well as border checks. WTO Director-General Roberto Azevedo in May said there must be a bilateral agreement between the EU and U.K. in order to claim an implementation period under GATT Article XXIV.

    "Once they have an agreement, I think Article 24 could give them some time for implementation of that agreement. But the first question is the agreement itself."

WTO chief says trade barriers between US and Europe are 'last thing we need' | CNBC - 1 day ago |

Azevedo told CNBC that after a no-deal exit the U.K. can immediately default to trading under WTO rules. He warned however that any attempt to invoke an obscure trade law -- Article 24 of the General Agreement on Tariffs and Trade (Gatt) -- to allow continued free trade would fail.

My recent diary ...

NI-Only: Boris As Escape Artist

Global Warming - distance between America and Europe is steadily increasing.

by Oui on Fri Oct 11th, 2019 at 07:24:29 PM EST

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