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The Law & Politics of Brexit$
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Federico Fabbrini

Print publication date: 2017

Print ISBN-13: 9780198811763

Published to Oxford Scholarship Online: November 2017

DOI: 10.1093/oso/9780198811763.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 29 October 2020

The Prospects: The UK Trade Regime with the EU and the World

The Prospects: The UK Trade Regime with the EU and the World

Options and Constraints Post-Brexit

(p.71) 4 The Prospects: The UK Trade Regime with the EU and the World
The Law & Politics of Brexit

Giorgio Sacerdoti

Oxford University Press

The chapter provides a thorough examination of the options available to the UK to trade with the EU and the rest of the world. Sacerdoti departs from the understanding that the UK will not remain part of the EU single market or the EU customs union—as clearly indicated by UK Prime Minister May. Sacerdoti considers what could be the features of the new ambitious free trade agreement between the UK and the EU, and explains what would instead be the default rules of the World Trade Organization (WTO), The international trade conditions set by WTO rules are significantly worse than those currently enjoyed by the UK as a member of the EU. Sacerdoti, instead, sees no problem in the UK inheriting the WTO schedule of the EU, and even suggests that the pre-WTO Global Agreement on Trade and Tariffs (GATT) may provide a custom-made solution to keep border-free trade between Northern Ireland and Ireland under the so-called ‘frontier traffic exception’.

Keywords:   Brexit, withdrawal, trade, WTO, EU, UK, negotiations, agreement, options

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