Volume 12 (2017) / Issue 3
This article argues that the EU's GATT and GATS schedules are binding on the UK in its own right, in respect of UK territory, and will continue to be binding on the UK following Brexit. Establishing a new schedule is straightforward except for a small minority of commitments expressed in quantitative terms. Determining the UK's share of these quantities depends on identifying the correct legal principle, and this would be best done by the agreement of any affected exporting WTO Members. If such agreement fails, however, the UK's obligations are limited to compensation for any trade damage, set against the benchmark of its existing commitments. Any such damage is likely to be slight, and relatively easily compensable. In other words, the UK's position in the WTO post-Brexit is much more secure than many have said.
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