Brexit explained: we need to talk about tariffs
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- Опубликовано: 16 окт 2018
- You might think Brexit is boring and confusing but crucial decisions are being made that could change the economy and cost you money. (Click to subscribe: bit.ly/C4_News_Subscribe)
If you want to understand how the UK economy is going to work after we leave the EU then you should know about tariffs.
These are just taxes on imports from foreign countries which can have a huge impact on trade and most importantly, how much things cost you. For a long time the UK hasn't really had to worry about them because of our membership to the EU.
But after Brexit trade will become a regular story as countries and business turn to government to make post-Brexit deals.
With Brexit that could all change so in this explainer we talk about how tariffs work and what they might mean for your bank balance in future.
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Nice tariff explanation. Just for clarification, the proposed tariff schedule of the UK with the WTO (and by the way, the one by the EU as well) have been contested, which means that other countries don't like them. To get an WTO approved schedule over 150 countries have to agree to them. Additionally to that today several countries, including the USA and New Zealand blocked the UKs attempt to remain in the WTOs GPA (Government Procurement Act) post brexit, which will block UK companies to take part in any government related procurement including defense.
However, non-tariff barriers are actually more important than tariffs, tariffs can be priced in and countered, especially nowadays that most countries have very low tariffs to begin with, the average tariff of the EU is just 3,6% for example. However, stuff like schedules (how much of which product can be imported at no or low tariff until a very high tariff will be slapped on), product standards and health and safety regulations are much more of a hindrance to trade. And post a no-deal brexit the EU will have to check each and every item from the UK on all those standards until a common rulebook is agreed upon.
It was a good clip explaining Tariffs, However I don't think you should have used France as a individual country but a EU logo because France doesn't have their own Tariffs Schedule they have a schedule together with 27 countries all charging the same.
Secondly There will be Customs checks and it will be more difficult to export outside of the Customs Union and the Single Market.
You clearly need to state that fact, And not use maybe/possibility because outside the SM and CU there are no Friction less trade.
For clarity ...
Would the UK remaining in the EU Customs Union
a) resolve the Irish border issue.
b) stop freedom of movement of people
c) give UK control over its laws & borders; Obviously there'd be some ECJ involvement in trade dispute resolution but would it be more prohibitive than WTO dispute resolution
a) No, it would lessen the impact, but there would have to be regulatory checks for goods, the EU proposes to do them currently on ships/ports where they are, to a lesser degree, already done.
b) Yes, however, that requires obviously border controls, however, the common travel area between Ireland and the UK would allow freedom of movement of citizens of both, but not for other nationalities within the EU.
c) Borders, yes, the UK always had that, especially as they are a non-Schengen state. Laws to a certain degree, the UK would not be able to set its own tariff schedule and it could not negotiate its own trade deals, however it would be included in the existing trade deals of the EU that cover more than 60 states and around 80% of the worlds GDP.
There's a factual error in this. A tariff is not imposed on the foreign EXPORTER... it's imposed on the local IMPORTER. So the French apple producer doesn't pay anything - but the British importer and thus the British consumer pays more. It's important to keep this clear because a lot of Bexiters (and Donald Trump) see tariffs as a way to directly punish a country when it actually punishes the purchaser - ie: their own citizens.
It's funny how 2 years after the vote only now public TV finally shows British sheep basic stuff like this. This is a primary school material to any EU citizen lol #basiceducation
The UK has no civics curriculum in schools. That's part of the reason why they were so easily fooled. They never treated EU parliamentary elections as important, never understood how the EU's legislative and rulemaking processes work, heard nothing but local politicians and (often american owned) tabloids taking credit for the good and blaming the EU for everything bad (often just making stuff up to get outraged about).
Sure - call the British people sheep. It's no wonder you lost. 😝
J R : stop being silly. The brits had no plans whatsoever due to continuous tory in house bitching. Many did predict and try to push the govt on, were your eyes and ears closed? This should have been govt. led...........not led by the TV stations!!!
That's because Brits are "special"! They need special care in explaining to them basic sentences in plain English. Multiple times. For a long time. With different words, because they don't know the meaning of words.
@me hee I am of the lawful evil EU. I naturally dislike chaotic stupid.
In a globalized world its all about relative competitiveness. The British economy excels on services (insurance, financial etc) and its a completely different ball game to Tariffs on physical goods. The EU will never allow freedom of capital without freedom of labor. Having the city's competitive advantage eroded may not cost votes but it will hurt the treasury badly in the long run.
Just in time manufacturing will be wiped by having tariffs and I just hope the hard working employees of impacted companies can retrain and find stable work elsewhere.
There is no way EU negotiators will allow the UK to pick and choose things which are only beneficial to the UK. This is either going to end in tears or the UK will have to accept rules that made brexit pointless any way.
Surely this animation should be up for an award whatever your view on Brexit?
It's only half the story as usual from the remainer press.
It's short for "British Exit", like Grexit was short for "Greek Exit" from the EU. Remember how horrific the idea of Grexit was to everyone? (This was about three years ago now.) Now the British have volunteered to exit, based on lies from the friends of the very rich and powerful who don't care about the majority of Britons.
Do you a video explaining the basics of tarriffs makes Brexit look bad? That's interesting.
Yikes I feel bad for you British all this Brexit talk is overwhelming..
Don't feel bad for us - it's important the UK suffers. A hard-Brexit, and the pain that comes with it, is the only way that The Right in the country will be silenced, and shown for the duplicitous, lying bunch that they truly are.
Terasa may a Eooh! Remainer, negotiated a farcical BREXIT.
Or so we think.
As far as she is concerned everything is going to plan.
She's rammed BREXIT so far up the uk ppls arses that pretty soon we the people, will start to say, enough,we don't care about what happens to BREXIT, just get it over because All this uncertainty,is not good And the longer it goes on, project fear will start to become true.
And the fear assumptions only serve to telegraph what our fears are and so the EU can just threaten this is what will happen. Medical supplies won't get through as well as food supplies,planes won't fly etc.
So that is threaten health,hunger and holidays, enough to reach the uk ppls.
So Mays plan A,is to stay in EU, and her plan B,is her deal with is vague and can easily be interpreted as still in the EU,while. Being able to claim were out,
The EU still have a beachhead in Ireland
If Hitler was alive he would be doing cartwheels,nevermind his silly little dance,at Frances surrender
What... So my best friend is in the smoothie business but I still have to pay for smoothies? Great friend...
Bit late isn’t it!!! surely this video would of been better served before brexit so people knew before they voted
Brexiteers do not care about facts. They a underbelly voters fueled by rampant populism devoid of facts.
Mini Mead3 If it didn’t mention the word migrant or foreigner no Brexiteer would’ve cared. This information was already available as well... imagine voting for something as major as this and not doing your research.......
You cannot set tariffs on apples from the EU according to WTO, you can only set tariffs on apples (in general).
Yes and this is one of rules which came from the UK as one of the founding members of the WTO.
Its a shame you haven't mentioned the real evil in the global economy - subsidies!
Would there be a tariff if Bretix was actually Bretix and not title......Independence ,food,energy,currency
I don't get why this is in the news only now.. The BBC should have informed the public before the referendum!
Tarsius bancanus Indeed!
You mean the second one?
They did. Leavers thought it was fake news
They don't want you to know the truth. The EU's massive tariffs for other countries on all the goods it produces itself is what keeps prices for us high.
Funny how people assume that something that agrees with their views is automatically the objective truth. 🤣
I'm not sure what the PM plans but WTO requires a hard boarder between all members including NI.
Indeed. And non-discriminatory customs, which means either shortages, price rises and long queues at ports, or huge disruption to UK industries by a sudden flood of imports from all around the world.
Which also brings into question quality standards and things we take for granted in our society. On the other side I love the Governments plan for a no deal of we will accept the EU standards and hope they accept ours in return.. Sadly that's not really how the world works...
Interesting point.
@ULTRA BOBO hate-filled ideological diots Iike you not caring about ANYTHING but jingoism.
My understanding is WTO rules is the default position of trade. But you can sign independent trade deals individually with any country, so can tailor it to suit both sides. Done right, everybody is happy. End of the day, just like politics you can’t please everybody and there will be winners, and losers.
OK, but no mention of quota, subsidies and WTO MFN (Most Favoured Nation) status? And no mention of the fact that if we try to do deals with Japan or Canada, the EU will also have to be 'in the room', as a party to the talks.
Not to mention when the UK does go to 3rd countries looking for trade deals they will almost certainly get a deal worse than the EU has or could get purely on the basis of the EU27's economy being seven times the size of the UK's. Even Australia and New Zealand have said their priority is to reach a deal with us in the EU27 before the UK even starts negotiating. And the impact crashing out of the EU's 40+ existing trade agreements on the UK's supply chains and wider economy, particularly given it could take decades for the UK to even partially replace those with inferior bilateral agreements.
Its a 6 min educational video on tarrifs, whilst that info is important, i think your asking alot for them to fit it all in and keep the viewership
@@T123H123 sure, but even in that context it would have been good to point out that the end consumer ultimately pays the tariffs (the video just states that the importer pays... Which is technically accurate but masks the actual impact), and rather than the time spent explaining the WTO, focus on the impact of 3rd countries having to impose WTO tariffs on say a Brazilian consumer looking at a UK product vs a competing product from the US or Germany.
there was a video on the japan relations..seems like they are not that into the decision.
Why does the EU have to be in the room?
Great piece! I would have liked to see a bit more elaborate examples on the fantastic trade deals that Brexiteers believe are going to happen with the WTO.
Here's the deal: Let's say that the UK wants to sell their 1pound apples to the USA, but the USA is already buying them from the EU for 80p. The only way to make a deal happen is to compete and thus lower the price below 80p. Considerably lower those prices because why would America risk screwing up trade relations with the EU for just some apples and for only, say, 2p benefit. Lowering prices is the exact opposite of what Brexiteers feel is fair. So there ya go.
On top of that, when you undercut prices set by any large trading block, they won't take kindly to that and will, very politely, introduce tariffs on all kinds of goods. And that's when it suddenly dawns on people that they're just a single country dealing with a trading block that's dozens of countries stronger. A trading block that they once were part of! You know, back when things were still 'normal'.
Good luck Brexiteers! At least you'll have a pile of apples waiting to feed the nation when times get tough.
Here ya go, it might come in handy: www.countryliving.com/food-drinks/g650/apple-recipes/
Well done! This is how neutral information should be spread. Just a shame that this information wasn't clear in 2016...
It was of you saw Brexit the Movie.
This is far from neutral... They don't even mention how the trade deficit impacts tariffs. This was very bias towards remain. You aren't very good at detecting bias.
Everyone is forgetting the fact that Tariffs could go DOWN. That means cheaper goods, more affordable clothing footwear.
thank you so much
Any reporter who has the audacity to say charging the public more for apples will stimulate the economy is a ridiculous fool.
The phrase “The EU is Britain’s biggest trading partner” is VERY misleading as most of the trade is the UK purchasing EU output. The UK is an important trading partner within the EU...... but the power is with the spender, not the seller.
UK exports to EU are still the biggest. (44%, 274 billion), second is exports to US (99 billion)
astonm : your figures include the consignments which pass through Rotterdam in the Netherlands for out of EU forwarding, they also include financial services which should not really be included in exports as the service industry is largely exempt from global trade tariffs. The problem we all have is that project fear still pervades the Brexit debate.
I was in Poland recently. I don't see any British brands in the shops there. But I did find one. McVities digestives. And it costs about 4 times more in Poland than in the UK. So much for tariff free borders in the EU. Looks like Poland has their own tariffs that no one knows about.
As a remainer I feel pretty depressed about Brexit. What do you think we should do about it? Is there a realistic path to stopping it? What motivates the Brexiters?
thank you for the video
Facts, they'll bounce off the brexshitters.
Back to the good old food rationing?
hey maybe that obesety problem will solve itself :D
@@Mira_linn XD
Why have the British apples gone up? This is ridiculous!
Make cider!
Because everybody tries to make as much profit as they can. If everybody doing your job gets GBP 10 per hour, would you work for 8?
Good video, but there are not only tariffs in game. There are also subsidies and quotas that make it even harder to reach a trade deal....
I just love it when Brexiteers are going on about 'we don't need all that. We were Great before, we can do it again!'
Just for the record: what part of the world are you going to exploit this time?
America is off limits now. You could get a shot at Africa, but the Chinese are doing big business there already and won't be too happy about that.
Perhaps you could recolonize India?
It is true. And they also miss the fact that the world has changed, and keeps on changing! What was true in the past, simply no longer applies.
Sweden got huge demands on our own production which makes production expensive. we making sure that all trade outside EU got relative huge tariffs. but because we part of eu, some industries have problems to compete within eu. Farmers is one example of this.
Nope. The famous "Swedish model" is failing. Our government have moved stuff over to local authorities, so instead of the government taking big loans, its now on our cities and our municipalities (if that's the right translation). Malmö being the biggest loan taker. And the housing market is so off that we can't allow the interest rate to rise at all. And our government still want to take in immigrants and continue the "war" on co2 to "stop" the climate change. We got gender programs in almost every part of workplace, for example the nuclear plants must have a program to favour gender equality when they taking care of the waste product. We making sure dying media getting state handouts to survive, we funding gender studies (here its called gender science). We got the longest healthcare que in Europe. Our politicians want to raise retirement age to 75 from today's 65. The politicians promised 65. 60 000 - 80 000 immigrants to be deported Between 2016 and 2017, 5 000 was deported. Year 1969 Sweden passed 8 million inhabitants, 2004 we passed 9 million and in feb this year we passed 10 milion.
Why wasn't even this level of information available during the Brexit debates.
Smaller country, smaller population and a smaller market than the EU! Think about that brexiteers....................take a while. Oh wait, you don't have long left...................
Brilliant! Thanks a million. These simple explanations are so important in a world of verbose (and sometimes deceitful) politicians!
This Video is misleading. The term "slap a tariff" implies something being decided on the fly unilaterally.
At the WTO all members agree their Tariff schedule and the Quotas that apply. As the UK have decided to become a Third Country they can view in Geneva what Tariffs will apply to each of their good categories.
I believe that the UK have attempted to replicate the EU Tariff schedule but that this has been objected to by a number of Members (outside of the EU) Once the UK manage to successfully negotiate a schedule the Tariffs these will likewise be open for viewing.
These Tariffs act as a Maximum and as the UK negotiates Bilateral Agreements lower Tariffs on goods can apply.
I remember learning this from the '3Blokes in a pub' some time ago. finally the media is catching up.
Good for you. If you want more ideas, on what to do videos on, I suggest looking at their youtube Podcasts for inspiration.
The issue of Gibraltar is quite a nice one. Their economy is heavily reliant on being part of the EU, more strongly that Ireland. And the % who voted to remain was beyond overwhelming.
Perhap you could make a video on the very high risk of smaller UK states like Gibraltar leaving the UK if hard brexit does occur.
And this is not being 'taken' by Spain, but a willing decision to join Spain/the EU to protect their economy.
Tariffs are daft. Economics doesn't recognize national borders. If we produce apples at a higher cost than others we shouldn't be producing them.
If we were producing widgets by hand at a rate of 4 a day and another country had automated the process and were producing thousands a day at a fraction of the cost does it not make sense that we leave it to them while we use our time more effectively? Politicians are doing us no favours placing a barrier on that. There's always this unquestioned assumption within politics that the end goal is jobs jobs jobs, but what use is low unemployment if we spend all our days toiling away for peanuts in the widget factory.
I've exaggerated of course but it's just a matter of degree.
What a pleasure to see no crass comments about project fear.
But the UK has Nuclear missiles the only country in the EU that has them is France as an American I don't understand why German is in charge when the UK and France can level Berlin
Can you do a video explaining exactly how the Irish border can’t be solved with technology like ANPR and checks away from the border. Surely implementation will take time, but I can’t understand why we can’t have smooth operations without physical checks at the border.
UK not only loses frictionless trade with the EU, but also free trade agreements and trade agreements with almost all important countries. e.g. EU has free trade agreements with Canada and Japan and dozens of trade agreements with the US. And the EU is already negotiating with many others. All will be gone for the UK. And what will little England gain? Nothing! You are screwed.
Award winning animation this is
Without tarrifs in EUropa, all businesses need not pay any tarrif if operating in Europe. So lower costs for businesses and cheaper goods for consumer, so they can by more stuff. Additionally it inreases the productivity, becaus ee.g. in case of agriculture, regions are compatible where production costs are the lowest. Ths in true in general, but the agriculture example can be easily explained. So business in Europe overall are more productive, ebcause unproductive businesses relocate and production is concentrated in highly efficient clusters. This are several resons why economy profits through lower or no tarrifs.
Yes, the EU's massive tariffs against the rest of the world. What about food that we don't grow? See Economists for Free Trade for the truth.
Tucholsky satirized it well in 1930's Germany: "Germans! Buy German bananas!"
Higher prices my people...
Jacob Rees Mogg says UK bring tariffs to zero one-sided to deal with price rises .Bulshit. I wonder what leverage UK would have to sign any trade deals then !! Problems is anything Brexiters say goes unchallenged !!
1:43 "tarif de" as a French, I just laughing at it (not the translation of tariffs)
To compete on prices of goods on the global economy, post Brexit Britain will have wages reduced
For clarity ...
Would the UK remaining in the EU Customs Union
a) resolve the Irish border issue.
b) stop freedom of movement of people
c) give UK control over its laws & borders; Obviously there'd be some ECJ involvement in trade dispute resolution but would it be more prohibitive than WTO dispute resolution
a) yes
b) has nothing to do with it (so yes, Britain could remain in the Customs Union and restrict movement of people (like Turkey))
c) yes-ish, but probably not enough for Brexiteers. The UK would not be able to set up trade deals of its own and would have to follow ECJ rulings.
Good video for further info: ruclips.net/video/K8tmHxDT-48/видео.html
A. No. There would still have to be regulatory checks. That is why an open Irish border would require Northern Ireland to be in the single market too (to prevent regulatory checks), not just the customs union (to prevent customs checks).
B. Yes. Free movement of people is a feature of the single market, not the customs union.
C. Yes, except trade deals.
From an Irish perspective, Single market rules applying in Northern Ireland are a minimum requirement of the backstop.
You see the 1.8 million people in Northern Ireland from our perspective (and under the terms of the good friday agreement) are Irish citizens (and therefore EU citizens) even after Brexit. It's also worth pointing out that the good friday agreement is an international treaty between Ireland and the UK, lodged with the UN and with the EU and US as guarantors, which the UK would be violating the terms of.....
The only way for their civil and political rights to be guaranteed is if they remain under EU jurisdiction. People in the UK seem to forget that the troubles started with a peaceful civil rights movement (addressing discrimination in politics, policing, the courts, employment and housing that existed under UK administration) that was violently suppressed by the ruling sectarian government at the time in NI and the UK military.
The good friday agreement addressed the issues by allowing individual people in NI define themselves as Irish citizens, UK citizens or both with the EU court of justice (not the biased UK courts) guaranteeing the civil rights of all.
If the UK was to fall into a no deal brexit and effectively kidnap 1.8 million of our fellow citizens (against the will of the majority) and deny them the basic protections they're guaranteed by virtue of their EU citizenship that would be a justification for a violent response for many (even many in the republic who stayed out of the troubles previously).
there is no sutch thing as independent there are just different shades of interdependent...
This is how they tell us it works but in reality it’s all back handers
We Launder the worlds investments wink wink.
There is a common question that brexitards like to ask remaniacs in talk shows. Do you think all trade will end in case of no deal. This seems like a good place to answer it. No it won't. Pound will immediately get devalued to cover the average tax effect. Since tax rates are generally different for different goods, some industries might still find it harder to compete. All will however have increased pain if they need to import some of the components or raw materials, since with the devalued pound it would impact the production costs significantly. Will all trade end? No, but some businesses will need to close because they would not be able to make profits any more. This is where unpaid internships come in...
President 'Yingping'? Come on C4...
thanks for flagging we are fixing!
@ULTRA BOBO woah there buddy. Chill
Why not instead of tarifs, we take 1 apple for every 10
The rest of the world is laughing at the UK...and the laughing will get louder when UK negotiators find the rest of the world is just as hard-nosed on trade deals as the EU knowing the UK will be desperate and floundering to get trade deals. It is a sad sight to see my British roots being squandered by short-sighted yet patriotic fools.
Aren't we already paying 25% more for everything this year alone? We are already being punished by the EU through the cost of everything. A woukd be better off producing the goods here, I know the people could do with better and more reliable future where we support British businesses.
Go for it. It is that simple. Just produce all the goods. How come in the whole history of humanity no one had thought of that?
I found that a refreshingly unbiased report. A pleasant change from the usual BBC propaganda.
The consumer pay for the tariff otherwisw trump belief that american will make money off tariff. In the end consumer pay either way.
Northern Ireland.
Energy would be better spent animating a video focusing at the heart of the imposdibilites and panto-drama of Brexit (Northern Ireland and the DUP).
Bit of a language thing, maybe, but could you stop referring to the EU's unified customs regulations as "being in a customs union with the EU'?. You're not, you're currently in the EU. As of March 30th next year you may or may not be in a customs union with the EU, depending on whether your politicians want to start seeing the reality of the situation or not.
For crying out loud, people, why didn't you eat the crow when it was young and tender and just admitted the referendum was a bad idea right off the bat?
By leaving the single market, our products become more valuable
Unlikely. There is nothing the UK actually stands out in except for the service sector and that will be quickly dismantled and relocated to mainland Europe after the 29th of March 2019. That's 80% of your economy right there going up in smoke..
Do you think British cars is what mainland Europe want? Think again.
No, only more expensive.
Very decent animation. Clear and concise.
why don't you just play"Bad Moon Rising" to all Anti Brexiteers it's what they want to hear!
Can someone please send this video to Trump aka Tariff Man?? He needs a lesson on Econ 101
They show Animation like this at secondary school in EU For years to teach student why they live in EU . I am British and i found British education system ignorant to rest of the world .
Weren't you taught these things as part of history and/or economics at school? If not, why not?
These guys have no idea how trade works
Cheaper than EU tariffs? Pffffhahaahaha. You wish
make shure the apples you buy are made in Britain. anyway rekken it will cost you less
But there will be no cheap eastern European labour to pick them.
paul furey this able to be aranged for locality dont you agree
that is if they pay the locals the same they pay to eastern europian labour
eduard jones : as if they would :) ....but maybe the locals will have to do it as there will be no motor industry jobs and a lot less financial services jobs!
so maybe in motor industry or fields like those this is nott worth the investment than
This video made by a well trained Fear monger oh Ch4 surprise NOT.
If were having an Irish back stop while working out a way to trade in future.
This suggests we and the EU,both think there's a solution to frictionless ttrade in the future,and if not we just trade ad infinitum
For a RUclips channel with "News" in its name, it's not very nice to subscribers to repost old content...
This is a new video
Wouldn’t expect this to be anything other than leftist propaganda but I learnt a little I guess.
WTO tariffs will be OK
You wouldn't be a Remainian by any chance?
🤣
As if the EU is a wonderful panacea of zero tariffs!
The EU's COMMON EXTERNAL TARIFF is 9-32%, including an eye-watering 32% on dairy, meaning prices are 8% more in the EU than outside it.
Why does this video give carte Blanche to the EU's terrible record on trade?
ruclips.net/video/uovt1sC3rtM/видео.html
@@nolani.t6285 Funny, but I wouldn't take your political beliefs from a rather myopic comedy routine.
You call these "explainers"??? 6 mins of "could", "possibly", "think", "maybe"....and all negatively. Well done
It could also be that you don't see the positive sides of this neutral story. :)
It's because you're an extremist and haven't realised it yet.
The EU is one of the worst for applying tariffs. This is pure protectionism and what this whole video is criticising. Can’t you see the hypocrisy here? “Don’t leave the EU because tariffs are bad; stay in the EU with its single market protected by tariffs... not the bad ones from America, just the good ones”.
So if you are saying the EU protects its members from outside competition, why would you want to be trading with them from the outside?
Oh no! Bad EU for protecting the interests of the member states and of the EU citizen. How dare they do such a thing ?!?
Good thing the EU hasn't negociating free trade deals with many countries around the world like the USA, Canada, Japan or that the EU isn't negociating free trade deals with China or India.
ec.europa.eu/trade/policy/countries-and-regions/negotiations-and-agreements/
Trade is based on geography and the EU will always be are closest trading partner so making are imports more expensive and exports less competitive along with all the checks that now need to be applied that slow the whole process down isn’t good to say the least.
ruclips.net/video/uovt1sC3rtM/видео.html
They are called "Free Trade Deals" but they are not actually free as all countries protect their own interests as they must in some cases because sectors like farming receive subsidies that mean they cannot be as cheap as other countries' products. So by leaving the EU, the UK can sign "free trade" deals whilst protecting our own farmers and not all of the EU's farmers.
very one sided. You fail to mention that the uk runs a huge trade deficit with the eu. Tariff would hit the eu harder. Eu imports could be replaced with products from third countries which could be cheaper outside the common external tariff
The EU raises trade barriers against the rest of the world. It is not merely a 'free trade zone', it is a protectionist bloc.
You would still end up with the same tariff applied on both, because of most favorite nation (MFN) status.
You the either have to be able too proof to the WTO that the EU is engaging in unfair trade practice.
Or have a free trade agreement with *a* third party country, that can not merely be for *a* specific product.
You could have 0% for everyone. Could be cheaper but not by a long shot. You also need to have more customs officials, officials in general and general officials. It's like triple play from telecommunication providers. Sure no one needed the landline phone, why would we pay for it. But their business calculation is such that booking Internet and TV individually cost just as much as all three. So to save a buck you'll also have to sacrifice one more thing here.
You're not accounting for the fact that the UK's economy is seven times smaller than the EU27... any hit we take is mostly distributed among the members (with my own country, Ireland, taking a disproportionate hit due to geography).... and fairly minor in the context of a €14 trillion economy. For the majority of countries in the EU27, the expected impact of a no-deal brexit is less than their economies have grown in the last 12 months.
Also the trade deficit isn't that big, to put it in it's proper context a large part of the so called trade deficit is composed of UK industry importing components and materials which they use to produce higher value goods then exported to non-EU final customers... without access to the EU supply chains you can't produce those goods and without access to the 45+ trade agreements the EU has with the rest of the world it's not like anything you could produce would be competitive... what with all the tariffs everybody on earth is going to have to slap on them under WTO rules. And a large proportion of the business the UK loses will be picked up by the EU27, still a net loss for everyone involved (which is one reason brexit is so stupid), but that the EU27 are going to come out of it better off than the UK is certain.
If EU imports are replaced with cheaper products, then, doesn't that harm British producers even more?
It is like the 'we do not want EU migrant workers, we prefer migrant workers from elsewhere... who are cheaper.'
@ULTRA BOBO side? Moron.
This 'little chat' is NOT neutral. It's full of assumptions and predictions based on seudo economics. We have a trade deficit with the EU for example. So WTO tariffs would produce more income for UK than the EU. And French apples are worse than than u.k. btw(climate).
Guess who is paying for those Tariffs?
You think the exporter are the ones paying?
You will pay the increased cost related to imports, and the exporter will get the exact same payment for their apples.
The amount of Ignorance and lack of understanding on this issue is remarkable!
Why do you have a surplus in goods? Because you can't produce enough food to be self sustainable, While on the other hand you have a High surplus in services that will evaporate after Brexit.
Here is the reality:
UK or the EU won't benefit from UK's choice, You have voted to be poorer and have less opportunities!
There are no positive outcome of Brexit in terms of Freedom or prosperity.
They dont have a magic 8 ball, they generate forecasts on past data and influences, our own goverment dont know what policy will be in place in 6 months and they are the ones asking for it...
Common Sense so apples are the example. If they come from France the increased cost (tariffs) will go in to UK government coffers, which is ''our'' money so no net increase for the consumer. Because we're out of the EU we'll be able to get cheaper apples from N.Z. anyways. So French apples just won't be imported.
The reduction in services argument is speculative only.
under WTO rules you can't slap a tariff on european (french) apples and not do the same to N.Z. apples.
WTO trading rules 😍😍 look at all the desperate EU bots looool
You want to be cucked by the WTO, globalist? No point in leaving the EU, unless we also leave the WTO.
Desperate EU bots, Hmm I wonder how you feel in a year.
The EU is also in the WTO. We can veto your WTO schedule. You can't escape our unelected wrath mwahahahahahahah!
*Meh...memes are more important* article 11, 13 and other EU Totalitarism is more an issue.
Btw, Paying a fee to the EU through taxes is like a compulsory tariff anyway.