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Edwin Hayward
@uk_domain_names
, 3 tweets, 1 min read Read on Twitter
Bottom line on why WTO terms are a non-starter...
In 2017, UK exported £613.4bn in goods and services to WTO members. Of that, just £101.2bn went to countries that don't have any form of preferential or non-MFN trade in any goods or services with the EU-28
theyworkforyou.com/wrans/?id=2019…
Got that? 99.3% of our total exports of goods and services went to WTO members. But only 16.4% went to WTO members that didn't have better trade arrangements layered on top of WTO.

So yes, all our trade is with WTO members. But very little of it is on WTO terms.
Once that's really sunk in, properly, you'd better read this to learn the rest of the truth about WTO.
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More from @uk_domain_names see all

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Edwin Hayward
@uk_domain_names
Clearing up a bit of confusion on the WTO: 164 countries are WTO members. But none of them trade exclusively on WTO terms with all other countries.

That's because they all have free trade deals, trade facilitation arrangements or other deals that give them better-than-WTO terms.
In the UK's case, 99.3% of our total exports of goods and services went to WTO members. But only 16.4% went to WTO members that didn't have better trade arrangements layered on top of WTO.

So practically all our trade is "with WTO members". But very little of it is on WTO terms.
In a no deal Brexit situation, we would lose all our existing trade deals, and would be reliant on WTO terms alone. The only country to do so. A very lonely club indeed!
Read 4 tweets
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Edwin Hayward
@uk_domain_names
No Deal Brexit Myths Busted
- No "transition period" under no deal Brexit
- No deal doesn't mean status quo
- No deal *requires* hard Irish border (land or sea)
- 99.3% of UK exports go to WTO members. But only 16.4% of trade occurs without extra trade facilitation arrangements.
- We can't walk away from the EU and pay nothing, not if we want to have a future trade deal with them (money's not for smoothing trade talks, but for what we owe on past and ongoing commitments, such as pensions)
- No such thing as: WTO Brexit, global Brexit, managed no deal
- Even if we crash out of the EU on 29 March 2019 without a deal, that's the beginning of Brexit, not the end. We will still need to replace all our lost relationships. But we will be negotiating with zero leverage (we have nothing, and we've already left).
Read 5 tweets
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Edwin Hayward
@uk_domain_names
🚨Democracy under attack🚨
Jacob Rees-Mogg suggests proroguing Parliament (closing it for a number of days) to prevent MPs voting on an amendment designed to stop no deal Brexit.
news.sky.com/story/governme…
mirror.co.uk/news/politics/…
Read 4 tweets

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1. So it's like this. The Tories got it into their heads that we will be leaving the EU and sailing off into the sunset in 2019. That was never going to happen. They were told repeatedly by the EU. This reality did not register.
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