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This real-life experience of a small West Yorkshire company, before and after the creation of the single market, provides an insight into our imminent future in the event that we leave the EU without a worthwhile trading deal.
While the picture’s hardly pretty and certainly not what advocates of Brexit envisioned, none of it surprises economists. As a former Bank of England official observed: “You run a trade war against yourself, bad things happen.”
The government has no plan to save a vanishing sector.
How will the United Kingdom’s vote to leave the European Union impact the ongoing sovereignty dispute with Argentina over the Falkland Islands (Malvinas)?
On March 21, 2018, in Kigali, Rwanda, Africa took the giant step of creating a large and integrated market by establishing the African Continental Free Trade Area (AfCFTA)
"All this will do is provide a free subsidy for cane coming into the UK at the expense of UK farmers" /
The Tory leadership race has brought a no-deal Brexit closer. Most candidates have either elevated No Deal to a heightened form of Brexit - a "clean" Brexit - or have insisted it is preferable to an extension beyond the current Article 50 deadline of 31 October.
WTO’s accession chief says Britain’s departure from the EU creates an unprecedented situation that could take years to resolve.
This article, circulated widely on social media at the time of the referendum, claimed in error that EU tariffs starve African farmers. Since then it has been updated with an errata explaining its stated facts and conclusion are wrong. No tariffs are paid except on weapons. / NOTE: This article has now been removed from CAPX. We've linked to a copy from the WayBackMachine web archive.]
'It is hard to predict how full Brexit would play out, because this scale of multiple simultaneous renegotiations of global trade agreements is unprecedented – and no country has ever left the EU. It certainly can’t be assumed that Britain is bound to get quick and good deals because it is a large economy.'
The Sun ... "we made our calculations on retail prices, when tariffs are actually applied when goods arrive in the UK. There were also mistakes in the calculations for individual items." / "The article also stated that we pay trade charges on more than 13,000 items from outside the EU. In fact, for many of these goods, no tariffs or charges are payable."
No deal Brexit is not the end. It’s only the beginning. To the no-deal Brexiters who say, ‘I just want to leave” or “leave means leave”: you do realise that we will be trying to get a new deals the minute we leave, don’t you?
Having left the largest internal market in the world, the search is on to give the impression that there are many new trade partnerships out there to compensate for the already very real loss of cross-Channel trade. / At the moment, Britain’s trade with the CPTPP countries is less than our trade with Germany alone.
According to the Guardian, the EU is looking into adding a “punishment clause” in the future EU-UK trade agreement. Such a clause would allow the EU to increase its tariffs back to WTO levels in case the UK ends up lowering “social and environmental” regulations in order to regain a competitive advantage.
Jacob Rees-Mogg has put his name to an “Economists for Free Trade” (EfT) report claiming a no-deal Brexit would bring a £1.1 trillion boost to the British economy over the next 15 years. This is pure fantasy. The overwhelming consensus amongst economists is that quitting the EU with no deal would be a disaster on a truly magnificent scale.
The PM is reportedly considering bypassing the Northern Ireland protocol so British sausages can continue to be sold there.
The UK must ensure that it retains access to the Single Market, has an open trading regime and maintains a stable regulatory framework with the European Union to minimise the impact of Brexit on the North East economy. This is the key conclusion of ‘Leaving the European Union’, a report by a powerful regional economic group says today.
The Sun has finally fessed up to a series of careless calculations suggesting Brexit would see big price drops in UK shops. The tabloid deleted the offending article hours after posting it on February 27. ... Will Brexiters such as Jacob Rees-Mogg, who enthusiastically tweeted the original figures set the record straight also?
Many UK exports won’t qualify for preferential terms.