ollie989898
Member
Where have I stated that the WTO is meaningless? Of course dozens of countries are signed up to it, including the one I live in, it is a way of trading as a last resort, most countries prefer to trade with a more advantageous arrangement, preferable with a FTA.
I may live in upside down land, but to believe that trading on WTO terms puts you at anything other than a disadvantage over your competitors with FTAs is pure fairy land. The maths is simple, if you are selling into a country and have a 10% tariff applied you either have to take less for your goods to compete or try to convince the purchaser that your goods are worth more, why do you find this so difficult to understand?
Yes the UK is a large consumer market and those countries that have consumer goods to sell will happily do a trade deal, as seen with the recent deal with Japan, they are selling you high value Toyotas and Nissans etc in return you can export some mouldy cheese, from memory the figures were £13bn in Japans favour. The hard deals to do are those that give the UK a positive trade balance and they are the deals you need.
The UK has a big trading deficit with a lot of countries. In particular the EU and this has widened every year the UK has been a member.
What is your point, exactly?