End of the WTO's Status Quo?
The EC recently released a series of proposals aimed at ending the deadlock in the WTO’s appellate body, suggesting “concrete changes” to how it will function in today’s brave new cold war world. Currently, the EU, Australia, Canada, China, Iceland, India, Korea, Mexico, New Zealand, Norway, Singapore and Switzerland all support the changes outlined in the press release below.
One of many WTO hurdles cleared before Brexit
Coming back to Brexit, the U.K. has provisionally won access to the WTO's public procurement rules which govern $1.7 trillion in annual trade globally. That's still subject to wider government approval but removes one major hurdle to a continuation of economic activity once the Brexit transition period ends. Other WTO-related hurdles remain however, as discussed on international trade policy, which could be subject to geopolitical considerations given the U.K. may need to technically rejoin the WTO.