Brexit: Myths and Realities Regarding the ‘WTO Option’

If the UK leaves the EU without a deal, it would fall back to trading under World Trade Organisation rules in its international trade. In this paper for the Institute of International and European Affairs, Michael Daly, a former Chief in the WTO’s Trade Policies Review Division, explains the processes that the UK must follow to disentangle itself from the EU and establish its own schedules of commitments at the WTO, and the implications for the UK of trading solely on the basis of WTO rules.