UK plans to slash up to 90% of tariffs if there is no-deal Brexit

[meridian]

Normally exports are tarrif free and imports have tarrifs.
You don't normally penalise companies exporting. The EU are not going to charge themselves a duty to export to the UK but they most likely will charge a duty on UK exports to protect their economy.
Some countries like Argentina add a duty to meat so that their farmers dont export all the meat.

If we leave with No Deal, then they must (not most likely) charge tariffs on imports from the U.K. This isn’t to protect their economy (the imported goods and quantities would be no different before or after Brexit) but to comply with WTO rules, specifically the MFN rule.

If there is No Deal, then the U.K. must be treated the same way as any other third country that doesn’t have an FTA with the EU.

[Old Greg]

If we leave with No Deal, then they must (not most likely) charge tariffs on imports from the U.K. This isn’t to protect their economy (the imported goods and quantities would be no different before or after Brexit) but to comply with WTO rules, specifically the MFN rule.

If there is No Deal, then the U.K. must be treated the same way as any other third country that doesn’t have an FTA with the EU.

Mean old bullies.

[meridian]

Mean old bullies.

The WTO? Yeah. Imagine leaving an organisation where you have “no say on the rules” (EU, 1/28 member states, 10% of the MEPs) and wanting to trade solely under a “more democratic” organisation (WTO, 1/164 members, 1/164 of the delegates).

[Paddy]

The WTO? Yeah. Imagine leaving an organisation where you have “no say on the rules” (EU, 1/28 member states, 10% of the MEPs) and wanting to trade solely under a “more democratic” organisation (WTO, 1/164 members, 1/164 of the delegates).

Exactly, but Brexiters are too thick to understand that.

[Old Greg]

The WTO? Yeah. Imagine leaving an organisation where you have “no say on the rules” (EU, 1/28 member states, 10% of the MEPs) and wanting to trade solely under a “more democratic” organisation (WTO, 1/164 members, 1/164 of the delegates).

The WTO can go swivel. The UK holds all the cards.