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Old 2nd Jun 2017, 14:53
  #9620 (permalink)  
ORAC
Ecce Homo! Loquitur...
 
Join Date: Jul 2000
Location: Peripatetic
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Trade tarrifs are import taxes set by the importing nation, if the government don't charge any the price of imports from the EU to the UK will remain the same and those from outside the EU will be come far cheaper as the UK will then be outside the EU tariffs wall and can stop charging them on those nations.

The EU cannot, under WTO rules, charge the UK higher tariffs than other non-EU nations. The average WTO tariffs is 9%. There are higher tariffs, but not only goods where the UK is a major exporter. If the EU does fail to do a deal and sets tarrifs, then the UK can set import tarrifs and provide compensation to the affected exporters. Since the UK imports more from the EU than it exports then the equation will be in profit, not loss.

This neglects the insistence the EU has on doing a deal which keeps the present open tarrifs free border between Eire and NI, and any arrangement must, perforce Nd under WTO rules, apply to the whole of the UK and not part.

Last edited by ORAC; 2nd Jun 2017 at 16:08.
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