WTO´s Most-favoured-nation clause: treating other people equally – Brexit explained

WTO´s Most-favoured-nation clause: treating other people equally – Brexit explained

Today I want to give you some comments on the WTO, here especially about the most favoured nation clause.

The WTO agreements are lengthy and complex because they are legal texts covering a wide range of activities. They deal with: agriculture, textiles and clothing, banking, telecommunications, government purchases, industrial standards and product safety, food sanitation regulations, intellectual property, and much more. But a number of simple, fundamental principles run throughout all of these documents. These principles are the foundation of the multilateral trading system.

Under the WTO agreements, countries cannot normally discriminate between their trading partners. Grant someone a special favour (such as a lower customs duty rate for one of their products) and you have to do the same for all other WTO members.

Vom 23.05.2020
Permalink: https://www.marc-wesseling.de/?p=2094
Kategorien: Allgemein, Brexit (English)
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