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U.K.'s Other Brexit Fight May Bar It From $1.7 Trillion WTO Deal

  • Britain seeks to rejoin WTO Government Procurement Agreement
  • U.S., others say the U.K. offer is outdated, insufficient
U.K. Prime Minister Theresa May Attends Parliament
Photographer: Chris Ratcliffe/Bloomberg
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U.K. businesses stand to lose access to a $1.7 trillion public procurement market if signatories to a World Trade Organization accord this week block Britain’s application for membership, which will lapse after it leaves the European Union in March.

On Nov. 27, the U.K. will seek admission to the 46-nation Government Procurement Agreement in Geneva. Failure to rejoin the pact could prevent U.K. companies from bidding on government contracts in member nations, including the $837 billion U.S. market. Each member has the power to block admittance.