Britain has been told to prepare for a no-deal Brexit when the transition period ends on 1 January 2021, after trade deal talks reached an impasse.

So far, in the first two months of Brexit, the following industries have indicated that they have been harmed: Aerospace; Airlines; Architecture; Art and Antiques; Beer; Bees; Cattle and horse breeding; Charities; Cheese; Chemicals; Cars; Classic Cars; Construction; Cosmetics and Perfume; e-Commerce; Fabrics; Fashion; Ferry services; Film and TV production; Financial Services; ...

Jonathan Portes assesses the extent to which predictions about trade and migration before the Brexit vote have materialised, highlighting that trade has been reduced by additional barriers but the extent to which liberalisation would increase migration flows in the short term was underestimated.

Despite calls to 'take back control' the economic reality is that tariffs will be determined by the 'bound rates' that the UK already has in place under the WTO and, ultimately, no tariff regime will make up for loss of access to the EU market

The Sun has admitted it got the calculations wrong over an article which calculated the potential savings British shoppers could see once European Union tariffs are removed after Brexit.

Richard Barfield explains the deluge of restrictions and regulations that have been saddled on firms after the UK’s departure from the EU

"...rules of origin are how customs authorities classify where an exported product has originated. The rate of duty that importers are required to pay when bringing goods into a country depends on three elements – the type of goods (which is classified by a ‘tariff code’), the country the goods are being imported into, and where they are judged to have ‘originated’ from – i.e. the origin."

Many UK exports won’t qualify for preferential terms.

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?

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 PM is reportedly considering bypassing the Northern Ireland protocol so British sausages can continue to be sold there.

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.

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.

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.

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?

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."

'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.'

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.]

WTO’s accession chief says Britain’s departure from the EU creates an unprecedented situation that could take years to resolve.

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.

"All this will do is provide a free subsidy for cane coming into the UK at the expense of UK farmers" /

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)