UKC

Having heard about this on the radio just now, an increase in price on goods coming into the UK from the EU of 20% is going to have a huge impact on our living standards, should we adopt Would Trade rules as a part of Brexit.

In reply to Timmd:

Either I´ m confused or you are! The governments set the tariffs for imports, the WTO only requires they are (more or less) the same for all countries importing into that land.

In reply to jimtitt:

So we would impose low tarrifs on the goods we want to import, say cars. Whilst the EU imposes it's High tarrifs on the things we want to sell them, car parts, Beef and Lamb. As the EU is by far our greatest Market, I can see that doing great for both our balance of trade and ability to grow our GDP.

In reply to Timmd:

Where do you get 20% from? Tariffs are variable and very few are that high.

In reply to Geras:


And what exactly has any of that to do with the WTO and it´ s "rules"?

In reply to pec:

Any Questions. It's not impossible that the person I overheard was wrong.

In reply to jimtitt:


Everything. Most favoured nation principle is the cornerstone of WTO.

In reply to Geras:


Are you suggesting that is a good thing?

In reply to timjones:

No! It's bonkers. Even many in the leave side acknowledge that a fall back to WTO rules will be a disaster. The key issues are not just the fact that the EU would under WTO be obligated to impose the same tarrifs on our exports as it does on all other countries that it does not have bilateral agreement s with on per category basis. But that none tarriff barriers will just stiffle trade, via additional costs and beurocracy. Then on our side we would have to impose duties in line with what we charge others. Much of the basis of the rights exit policy is based on free trade, which implies low to zero tarrifs. That zealot position is then presented to the masses as taking back control and a way to stop all those east Europeans from taking our jobs.

In reply to timjones:

A bit more: MFN tarriff imposed by the EU, whilst only being a trade weighted average of around 2.5% are heavily squed against certain types of import
18% on agriculture, 10% on Cars. As Africa has found the EU, protects the processed and High value end of any supply chain through high tarrifs at that end, and low tariffs at the feedstock end.