Quote:
Originally Posted by Mick
We won't be constricted by EU rules when it comes to trade with non-EU countries and tariff-free access to fast growing, protected markets of Asia, Africa and South America would be worthwhile.
As of right now, EU membership prevents us negotiating free trade deals and the EU has negotiated, so few deals for us, for example, none at all with the likes of China, India, Australia, Brazil. (And these are screaming to trade with us once we leave the EU).
As for the Single Market, every country has access to the Single Market, with or without tariffs.
If we left the EU with no trade deal, our exports would face EU tariffs averaging just 2.4%.
The other beauty is, we can retain free trade with the EU without paying our current entry fee which costs more than the tariffs we avoid. To put it another way, our net contribution to the EU budget is equivalent to a 7% tariff. Paying 7% to avoid 2.4% costs, is a total con!
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The EU is the most successful negotiator of trade deals in the world so quite how we can do better on our own I'm not sure.
But the main issue for the UK is that we sell services (80% of our exports) and these tend to fall outside free trade deals. That's why UK banks are busy moving staff to the EU.
Where do you get your tariff calculations from Mick? The EU costs include regulation costs that need to be covered whether done locally in the UK or centrally as part of the EU.