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

[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.

[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.

[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).

[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]

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.

[Paddy]

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.

[/URL]

Pre single market the UK had intervention tariffs for exports (of which I had to pay when going from Dover to Calais in my over-loaded Range Rover packed with goodies)

Intervention tariffs will have be charged after Brexit on all goods that receive a UK government subsidy eg. farm produce and maybe fish.

[Brussels Slumdog]

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.


Sent from my SM-A320FL using Contractor UK Forum mobile app

[Old Greg]

Unilaterally removing almost all tariffs will really strengthen the UK's negotiating position in future trade deals.

Not all barriers are tariffs. The British ruling class will still be able to negotiate with the U.S. to allow in poor quality food which poor people will eat. This will reduce the minimum subsistence cost of living which in turn opens up the potential to push down subsistence level pay and benefits.

[WTFH]

Unilaterally removing almost all tariffs will really strengthen the UK's negotiating position in future trade deals.

Yes, but if we start importing cheap food from abroad, that will put the UK farmers out of business, so no need to support them, they can then sell their land to property developers who can put up loads of houses, which can be sold to investors, thus keeping the economy flying.

[BlasterBates]

Unilaterally removing almost all tariffs will really strengthen the UK's negotiating position in future trade deals.

[Old Greg]

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

Guess how the UK funds its contribution to the EU and then guess what that means for the Brexit government expenditure dividend.

[meridian]

The story is a bit odd. Its not clear whether they mean 90% of the tariff schedule lines, or 90% of things we don’t make here, etc.

Business reps such as the IOD are mostly concerned that it’s being done in secret, with no consultations. Doesn’t bode well if it’s Gove and the disgraced former defence secretary Fox that are setting the rates.

Once the dust has settled, it’ll be interesting to see what the trade wonks make of it. Cut too much, and we have nothing left to offer anyone for FTAs (it goes without saying that although we might be considering dropping our tariffs, to other countries we’ll be on their third-country MFN rates).

[Paddy]

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

So how much reduction is 90% off zero?

The EU 27 + the 48 poorest countries + Japan etc etc are currently on zero tariffs

[AtW]

How’s that going to help getting stuff via Dover?

[Yorkie62]

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