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Farm Business
Politics, Covid19 and Brexit
No Deal Brexit
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<blockquote data-quote="farmerm" data-source="post: 5887372" data-attributes="member: 7195"><p>Agrivator, if we leave without a deal on March 29th then we default to trading under WTO terms. I am no expert on international trade but I believe this means we are obliged to charge import tariffs on goods on goods from the EU and the EU have to charge tariffs on goods from the UK. <strong>Trade can not possibly continue as normal</strong> on goods that high tariffs apply to. As I understand it WTO rules prevent favored nation trading, a deal the UK and EU can not simply choose to wave tariffs on each others goods whilst maintaining tariffs barriers for goods from other countries. I keep raising this point but I know a director who imports many of his components from the EU and exports most of his product to customers in the EU. That business can not afford to continue to manufacture in the UK if we leave on WTO rules. WTO will cost jobs, WTO without 2 years for businesses to prepare, time to develop new supply chains and new markets, will result in the loss of many, many jobs. The figures tell me 13% of our Economy is derived from trade with the EU, if we lost even 1/5 of that trade because of tariff barriers it would mean the fastest, deepest and probably longest economic recession in our history. Note that only 3-4% of the European economy comes from trade with the EU, the EU fear the loss of our money but not the loss of our trade.</p><p></p><p>Those pushing for Brexit at any cost either fail to grasp this or they simply don't care. If I am wrong then I would be delighted for one of you Brexit at all cost folk to better educate me, please!</p></blockquote><p></p>
[QUOTE="farmerm, post: 5887372, member: 7195"] Agrivator, if we leave without a deal on March 29th then we default to trading under WTO terms. I am no expert on international trade but I believe this means we are obliged to charge import tariffs on goods on goods from the EU and the EU have to charge tariffs on goods from the UK. [B]Trade can not possibly continue as normal[/B] on goods that high tariffs apply to. As I understand it WTO rules prevent favored nation trading, a deal the UK and EU can not simply choose to wave tariffs on each others goods whilst maintaining tariffs barriers for goods from other countries. I keep raising this point but I know a director who imports many of his components from the EU and exports most of his product to customers in the EU. That business can not afford to continue to manufacture in the UK if we leave on WTO rules. WTO will cost jobs, WTO without 2 years for businesses to prepare, time to develop new supply chains and new markets, will result in the loss of many, many jobs. The figures tell me 13% of our Economy is derived from trade with the EU, if we lost even 1/5 of that trade because of tariff barriers it would mean the fastest, deepest and probably longest economic recession in our history. Note that only 3-4% of the European economy comes from trade with the EU, the EU fear the loss of our money but not the loss of our trade. Those pushing for Brexit at any cost either fail to grasp this or they simply don't care. If I am wrong then I would be delighted for one of you Brexit at all cost folk to better educate me, please! [/QUOTE]
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No Deal Brexit
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