Re: Brexit and the EU
Originally Posted by Moscow
Which means we couldn't compete with the tariffs the EU places on Agri-products ( up to 22%).
If we unilaterally impose no tariffs on the EU , we also have to do that for every other nation that trades with us but ( as per WTO rules).......without a free trade agreement the EU does NOT have to remove tariffs on our products going in to the EU.
Therefore , I think I'm right in saying tht removing all tariffs is only good if part if a free trade agreement so that our goods being exported are also exempt !
Yes, spot on.
No Free Trade Agreement means that if we remove all our Tariffs, we must remove them from all.
They have no need to reduce theirs.
It means all our Imports will be Zero Tariff, but all our Exports will be subject to Tariffs and Non Tariff Barriers.
No other WTO Member has ever done that, simply because it is Financial Suicide.
Both the biggest Economies in the World, the USA and China, have never even contemplated that, and for good reason.
They are not idiots, No Dealers are.