A brief thread on why this is happening & how this works 👇
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Here's what Lighthizer plans to tell lawmakers today 👇
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![](https://pbs.twimg.com/media/EasZJHXWsAA1L0i.png)
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![](https://pbs.twimg.com/media/EasZVn5XYAUI6X5.png)
bit.ly/2C8X00Y
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The UK & the EU are currently reworking their WTO commitments as part of their Brexit preparations.
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The latest triennial period began on Jan. 1, 2018 & will conclude on Dec. 31, 2020.
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Any agreed upon concessions would be granted on a most favored nation basis to all other WTO members.
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bloom.bg/2BjQXWT
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If and when they do fail, the US would then consider moving forward unilaterally to impose reciprocal tariffs on America’s trade partners.
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If members can't reach an agreement on compensation by then the U.S. can unilaterally impose its new bound tariff levels.
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Any aggrieved nations can retaliate against the U.S. by imposing tariffs or other trade restrictions. (ie. Global Trade War)
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