The authoritative source for independent research on UK-EU relations

Economy

This fact was correct when it was updated on 24 Sep 2020

What are ‘WTO terms’?

WTO terms is a way of describing a trading relationship between countries that is based only on World Trade Organisation (WTO) rules, without a free trade agreement between the parties. The WTO’s rules are agreements negotiated by consensus among its member governments. They cover different aspects of trading relations between members. One of the most important WTO rules is ‘non-discrimination’ – in the absence of a free trade agreement, WTO members must treat all other trading partners in the same way, for example by applying their “most favoured nation” tariffs to them.

For more read our report on the WTO.

More facts you may be interested in

What is the Independent Monitoring Authority?

14 May 2021

What is the Trade and Continuity Agreement?

30 Apr 2021

What are remedies?

18 Dec 2020