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Bryce Baschuk
@bbaschuk
, 3 tweets, 3 min read Read on Twitter
Tonight's take home reading:

Sec. 421 of the Trade Act of 1974
bit.ly/2GoOSdM

This is an escape clause that allows the U.S. to penalize market-distorting Chinese imports found to disrupt U.S.-based industries.

In 2010 the @wto said Sec. 421 adheres to WTO rules.
@wto Sec. 421 continued...
@wto And here's the link to the @wto dispute ruling in DS399, which upheld the Obama administration's safeguard tariffs on imports of Chinese tires stemming from a Sec. 421 investigation.

bit.ly/2RYp09G
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More from @bbaschuk see all

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Bryce Baschuk
@bbaschuk
Here's a (non-exhaustive) look at the parade of horribles Britain could face if it reverts to trade on @wto terms

bloom.bg/2E6c3qO

@business

1/
@wto @business Hardline Brexiteers want to leave the EU customs union and single market and trade on @wto terms.

They argue the advantages of a hard and fast break would enable the UK to regain control of its laws and strike new trade agreements with the US and other nations.

2/
@wto @business In fact, Britain would face severe disruptions if it exits the EU customs union and single market w/o an agreement for an orderly withdrawal.

As the legendary @DmitryOpines says -- a "no-deal" Brexit would be like “downshifting a car at full speed from fifth gear to first.”

3/
Read 11 tweets
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Bryce Baschuk
@bbaschuk
This morning the @wto dispute settlement body is expected to grant China's second request for a dispute inquiry into @realDonaldTrump's tariffs on $250 billion of Chinese goods.

Here's a look at what's at stake:
bloom.bg/2WoxHxN

@bpolitics
@tictoc
@wto @realDonaldTrump @bpolitics @tictoc At today's @wto dispute settlement meeting in Geneva a U.S. envoy said a dispute inquiry into @realDonaldTrump's tariffs on $250 billion worth of Chinese goods would be `pointless' because China has already retaliated with tariffs against $100 billion worth of U.S. exports.
@wto @realDonaldTrump @bpolitics @tictoc U.S. Statement - "China’s request is entirely hypocritical. China is currently damaging the United States not only through its forced technology transfer practices but additionally by imposing discriminatory duties on over $100 billion in U.S. exports."
Read 6 tweets
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Bryce Baschuk
@bbaschuk
In three months the UK plans to exit the EU.
Absent any transition agreement, the UK will become an independent member of the @wto and must ensure its joint WTO commitments are disentangled from the EU.
2/
@wto In order to become an independent @wto member the UK must do 3 things:
I) Re-join the Government Procurement Agreement
II) Submit an independent WTO goods schedule
III) Submit an independent WTO services schedule
3/
@wto I) GPA:
The UK has already taken steps to rejoin the @wto GPA - a $1.7 trillion plurilateral accord that governs public procurement rules among 46 nations.
Details here: bit.ly/2yA8IPk
4/
Read 25 tweets

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