GENEVA (Reuters) – Trade experts have poured cold water on the idea that Britain could invoke an obscure clause in the international trade rules if it leaves the European Union without an agreement, but they say the claim keeps resurfacing to justify a no-deal Brexit.
Pro-Brexit campaigners say even if Britain and the EU fail to agree terms for their divorce, Article 24 of the World Trade Organization’s (WTO) General Agreement on Tariffs and Trade would let them keep trading as now for up to a decade.
People - Richard - Tice - Vice-chairman - Pro-Brexit
“People could carry on pretty much as is,” Richard Tice, vice-chairman of pro-Brexit campaign group Leave Means Leave, told BBC radio this week.
Although there is a clause in the rules that allows for interim agreements, WTO spokesman Keith Rockwell said it also requires the two sides to provide a plan and reasonable time-frame for their deal to take shape: a distant prospect.
Course - UK - EU - Agree - Process
“This presupposes, of course, that both the UK and the EU agree on the process of negotiating a deal, whatever form that deal may take. It would also require that both parties...
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