Thread by @mac_puck

@hamster_hami @VeuveK @jeremythomas212 @tolethorpe @Roblev0 @devonlass @The_Leaver @jon_mumford1982 @brianbloop @NickStevenson63 @Davidmetroland @ShlomoIndiana @srcoxlive @sunick51 @xtremedoda @JohnRod76512584 @alex_e_king @GentlemanGeorge @Ciolfilicious1 @David_Vaporium @Kitchy65 @blueunicornmoon @JTillx @nicko00127 @subjecttochance @flummixed07 @HarrietSmart @MarkInNorthWest @UKEDNurse @SciriusUK @jetjag100 @scirius22 @PostTruthPaul @IanTayl23605350 @Andywilds1 @MartinRemains @brexit_politics @EmilTschepp @f505eb72b9cd493 @MagriTiger @JohnSydenham @fccologne4eva @JRMCopeland @petuniasforever @Jim_Cornelius @LapisLazuli4402 @ticketsjaved @susanstanwix @PJA1066 @commer2stroke 1/Unfortunately, when you look at the detail they just can NOT be rolled over - it would be like cut and pasting someone else's will to save on lawyers' fees. Different deceased, different executor, different estate, different beneficiaries - just "no worky I'm afraid"
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@hamster_hami @VeuveK @jeremythomas212 @tolethorpe @Roblev0 @devonlass @The_Leaver @jon_mumford1982 @brianbloop @NickStevenson63 @Davidmetroland @ShlomoIndiana @srcoxlive @sunick51 @xtremedoda @JohnRod76512584 @alex_e_king @GentlemanGeorge @Ciolfilicious1 @David_Vaporium @Kitchy65 @blueunicornmoon @JTillx @nicko00127 @subjecttochance @flummixed07 @HarrietSmart @MarkInNorthWest @UKEDNurse @SciriusUK @jetjag100 @scirius22 @PostTruthPaul @IanTayl23605350 @Andywilds1 @MartinRemains @brexit_politics @EmilTschepp @f505eb72b9cd493 @MagriTiger @JohnSydenham @fccologne4eva @JRMCopeland @petuniasforever @Jim_Cornelius @LapisLazuli4402 @ticketsjaved @susanstanwix @PJA1066 @commer2stroke 2/ for example: Rules of origin.
An existing FTA might state a minimum domestic content threshold eg: "55% of this product must be sourced EU". It might not be POSSIBLE to source 55% in the UK - so we have just shot ourselves in the foot, big time.
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@hamster_hami @VeuveK @jeremythomas212 @tolethorpe @Roblev0 @devonlass @The_Leaver @jon_mumford1982 @brianbloop @NickStevenson63 @Davidmetroland @ShlomoIndiana @srcoxlive @sunick51 @xtremedoda @JohnRod76512584 @alex_e_king @GentlemanGeorge @Ciolfilicious1 @David_Vaporium @Kitchy65 @blueunicornmoon @JTillx @nicko00127 @subjecttochance @flummixed07 @HarrietSmart @MarkInNorthWest @UKEDNurse @SciriusUK @jetjag100 @scirius22 @PostTruthPaul @IanTayl23605350 @Andywilds1 @MartinRemains @brexit_politics @EmilTschepp @f505eb72b9cd493 @MagriTiger @JohnSydenham @fccologne4eva @JRMCopeland @petuniasforever @Jim_Cornelius @LapisLazuli4402 @ticketsjaved @susanstanwix @PJA1066 @commer2stroke 3/ Some FTA's require adherence to the EU's regulatory and customs regime.
Either we keep it the same (EU regs) and prevent ourselves from de-regulating (a la brexit), or we change the phrase to "UK regs" and get the response "you're 'avin a f**kin laugh, mate!)
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@hamster_hami @VeuveK @jeremythomas212 @tolethorpe @Roblev0 @devonlass @The_Leaver @jon_mumford1982 @brianbloop @NickStevenson63 @Davidmetroland @ShlomoIndiana @srcoxlive @sunick51 @xtremedoda @JohnRod76512584 @alex_e_king @GentlemanGeorge @Ciolfilicious1 @David_Vaporium @Kitchy65 @blueunicornmoon @JTillx @nicko00127 @subjecttochance @flummixed07 @HarrietSmart @MarkInNorthWest @UKEDNurse @SciriusUK @jetjag100 @scirius22 @PostTruthPaul @IanTayl23605350 @Andywilds1 @MartinRemains @brexit_politics @EmilTschepp @f505eb72b9cd493 @MagriTiger @JohnSydenham @fccologne4eva @JRMCopeland @petuniasforever @Jim_Cornelius @LapisLazuli4402 @ticketsjaved @susanstanwix @PJA1066 @commer2stroke 4/ Tariff rate quotas.
Say the FTA currently says "first 10K widgets sold to EU are tariff free". Say we split the quota 50/50 with EU.
A country that could export 10K units this year, tariff free, might cop a tarriff above 9K next year if we buy 4K and the EU buys 6K
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@hamster_hami @VeuveK @jeremythomas212 @tolethorpe @Roblev0 @devonlass @The_Leaver @jon_mumford1982 @brianbloop @NickStevenson63 @Davidmetroland @ShlomoIndiana @srcoxlive @sunick51 @xtremedoda @JohnRod76512584 @alex_e_king @GentlemanGeorge @Ciolfilicious1 @David_Vaporium @Kitchy65 @blueunicornmoon @JTillx @nicko00127 @subjecttochance @flummixed07 @HarrietSmart @MarkInNorthWest @UKEDNurse @SciriusUK @jetjag100 @scirius22 @PostTruthPaul @IanTayl23605350 @Andywilds1 @MartinRemains @brexit_politics @EmilTschepp @f505eb72b9cd493 @MagriTiger @JohnSydenham @fccologne4eva @JRMCopeland @petuniasforever @Jim_Cornelius @LapisLazuli4402 @ticketsjaved @susanstanwix @PJA1066 @commer2stroke 5/ Say an FTA gives a role to the CJEU in jurisdiction. Doesn't that cross one of Theresa May's famous Lancaster House red lines?
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@hamster_hami @VeuveK @jeremythomas212 @tolethorpe @Roblev0 @devonlass @The_Leaver @jon_mumford1982 @brianbloop @NickStevenson63 @Davidmetroland @ShlomoIndiana @srcoxlive @sunick51 @xtremedoda @JohnRod76512584 @alex_e_king @GentlemanGeorge @Ciolfilicious1 @David_Vaporium @Kitchy65 @blueunicornmoon @JTillx @nicko00127 @subjecttochance @flummixed07 @HarrietSmart @MarkInNorthWest @UKEDNurse @SciriusUK @jetjag100 @scirius22 @PostTruthPaul @IanTayl23605350 @Andywilds1 @MartinRemains @brexit_politics @EmilTschepp @f505eb72b9cd493 @MagriTiger @JohnSydenham @fccologne4eva @JRMCopeland @petuniasforever @Jim_Cornelius @LapisLazuli4402 @ticketsjaved @susanstanwix @PJA1066 @commer2stroke 6/ ISDS clauses
That's a clause that says if a State does something stupid (eg leaving the SM) which harms investors from the other country, an international court can award compensation against the offending government"
The UK might not WANT to roll these FTA's over!
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@hamster_hami @VeuveK @jeremythomas212 @tolethorpe @Roblev0 @devonlass @The_Leaver @jon_mumford1982 @brianbloop @NickStevenson63 @Davidmetroland @ShlomoIndiana @srcoxlive @sunick51 @xtremedoda @JohnRod76512584 @alex_e_king @GentlemanGeorge @Ciolfilicious1 @David_Vaporium @Kitchy65 @blueunicornmoon @JTillx @nicko00127 @subjecttochance @flummixed07 @HarrietSmart @MarkInNorthWest @UKEDNurse @SciriusUK @jetjag100 @scirius22 @PostTruthPaul @IanTayl23605350 @Andywilds1 @MartinRemains @brexit_politics @EmilTschepp @f505eb72b9cd493 @MagriTiger @JohnSydenham @fccologne4eva @JRMCopeland @petuniasforever @Jim_Cornelius @LapisLazuli4402 @ticketsjaved @susanstanwix @PJA1066 @commer2stroke 7/ In summary:
"Just roll em over innit?" sounds plausible until you look at the detail. Then it turns out to be nothing but unicorn shit. Like brexit.
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@hamster_hami @VeuveK @jeremythomas212 @tolethorpe @Roblev0 @devonlass @The_Leaver @jon_mumford1982 @brianbloop @NickStevenson63 @Davidmetroland @ShlomoIndiana @srcoxlive @sunick51 @xtremedoda @JohnRod76512584 @alex_e_king @GentlemanGeorge @Ciolfilicious1 @David_Vaporium @Kitchy65 @blueunicornmoon @JTillx @nicko00127 @subjecttochance @flummixed07 @HarrietSmart @MarkInNorthWest @UKEDNurse @SciriusUK @jetjag100 @scirius22 @PostTruthPaul @IanTayl23605350 @Andywilds1 @MartinRemains @brexit_politics @EmilTschepp @f505eb72b9cd493 @MagriTiger @JohnSydenham @fccologne4eva @JRMCopeland @petuniasforever @Jim_Cornelius @LapisLazuli4402 @ticketsjaved @susanstanwix @PJA1066 @commer2stroke Stone the bleedin crows! HMG have just confirmed it: no rollover of FTAs after no-deal. No FTA's for quite a while....

https://twitter.com/TomMcTague/status/1050726289441742848