The long delay of brexit affects the trade and many countries demand compensation from the UK and EU

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 The long delay of brexit affects the trade and many countries demand compensation from the UK and EU


Political news website politico reported on November 14 that the uncertainty of brexit continued to affect the trade situation before Christmas, and 15 trading partners of the UK and the EU expressed their concerns. Among these 15 countries are the United States, Australia, India, Brazil and other major trading countries.

At an internal meeting of the WTO on the 14th, representatives of the above-mentioned countries complained that the current brexit impasse had greatly affected normal trade between foreign countries and the UK and the EU. An official at the meeting said Australian representatives proposed that Australias business interests would be lost due to the repeated postponement of brexit by the UK. A lot of Australian companies have to stop exporting beef and mutton (to the UK and the EU) before Christmas. According to the representative of Australia.

The representative of Brazil warned that the current arrangement on the border between Northern Ireland and Ireland in the brexit plan might violate WTO rules.

Representatives of the United States, Canada and New Zealand also expressed their concerns and complaints. Although the British government has repeatedly stressed that after brexit, Britain will become a natural trading partner of other five eye alliance (the intelligence alliance composed of the United States, Britain, Canada, Australia and New Zealand), they have not paid for it. Representatives of the above countries warned the UK and the EU not to adjust tariff quotas without authorization.

Tariff quotas are the focus of these 15 countries. Tariff quotas set the number of specific types of goods that WTO members can export to the EU at zero or low tariffs. Among the products exported by foreign countries to the EU, the products enjoying tariff quota generally come from the agricultural field. For example, Australias beef export to the EU has long benefited from the tariff quota system. At present, the European Union as a whole applies the tariff quota system, Britain is also included in it. Once Britain leaves Europe, both sides must decide how to allocate these quotas. But if it is left to the UK and Europe to distribute, many countries are worried that this may hurt their exports to the UK and the EU. However, neither the UK nor the rest of the EU want to be forced to increase quotas for importing other countries agricultural products at zero or low tariffs, fearing that this will increase competition for their producers. Some of the 15 countries have asked for trade compensation, the BBC reported Thursday. In the context of WTO, trade compensation often means reducing the import tariff of other kinds of goods. Source: surging news editor: Hua Chengyu

Tariff quotas are the focus of these 15 countries. Tariff quotas set the number of specific types of goods that WTO members can export to the EU at zero or low tariffs. Among the products exported by foreign countries to the EU, the products enjoying tariff quota generally come from the agricultural field. For example, Australias beef export to the EU has long benefited from the tariff quota system.

At present, the European Union as a whole applies the tariff quota system, Britain is also included in it. Once Britain leaves Europe, both sides must decide how to allocate these quotas. But if it is left to the UK and Europe to distribute, many countries are worried that this may hurt their exports to the UK and the EU.

However, neither the UK nor the rest of the EU want to be forced to increase quotas for importing other countries agricultural products at zero or low tariffs, fearing that this will increase competition for their producers.

Some of the 15 countries have asked for trade compensation, the BBC reported Thursday. In the context of WTO, trade compensation often means reducing the import tariff of other kinds of goods.