[This post will] provide a detailed analysis of an article written by David (now Lord) Frost in this week’s Sunday Telegraph.

The tariffs on over half of products have changed, but the weighted average tariff on goods imported from ‘MFN’ countries has fallen only from 2.1% to 1.5% (excluding non ad-valorem tariffs). Given that any difference between the UK and EU tariffs may create administrative problems ... there is room to ask whether this has been a net gain.

The so-called Most Favoured Nation (MFN) clause contained in several of the EU’s existing trade agreements, could also limit the extent of concessions granted by Brussels to the UK. / This Briefing Paper explains what the MFN clause is and why it could be problematic for the UK. It maps out which EU agreements contain MFN clauses, their scope and the various exceptions they contain.