I don't know, obviously, but we have a steadily growing trade surplus with the non-EU world, despite tariffs, and it is a far bigger market than the EU and growing much faster. The EU actively constrains us from developing better links with it at the moment.
Ok. So the largest contributor to our exports was cars. $46bn worth.
60% of that goes to the EU.
Might make sense for those carmakers to locate their plants IN the EU...
BTW I don't anything like this will happen. We are heading for a Norway deal.
So the largest contributor to our exports was cars. $46bn worth.
60% of that goes to the EU.
Might make sense for those carmakers to locate their plants IN the EU...
Of course! They could import cars into the UK into the face of a 10% lower pound and a 10% tariff barrier, while spending billions to relocate and giving up the opportunity to increase exports outside the EU on the basis of the lower pound, eh?
Of course! They could import cars into the UK into the face of a 10% lower pound and a 10% tariff barrier, while spending billions to relocate and giving up the opportunity to increase exports outside the EU on the basis of the lower pound, eh?
Those factories are in the UK because they give Honda, Nissan, Toyota, BMW MINI, etc access to the EU market. I'm sure they won't be closed tomorrow, but future investment decisions WILL be affected.
I think she means after the ~2 years that will take to negotiate the terms of exit from EU and the WTO regulations kick in, then we would enter negotiations for a EU trade deal that could very well take 5 or 6 years.
I think she means after the ~2 years that will take to negotiate the terms of exit from EU and the WTO regulations kick in, then we would enter negotiations for a EU trade deal that could very well take 5 or 6 years.
She? Theresa May?
I'd hope they negotiate something more than WTO in the coming 2 years. But either way, if it's 2 years or 2+6 years, we'll end up with a Norway-style deal, paid for by all the intervening uncertainty and gaining us very little...
I'd hope they negotiate something more than WTO in the coming 2 years. But either way, if it's 2 years or 2+6 years, we'll end up with a Norway-style deal, paid for by all the intervening uncertainty and gaining us very little...
Sorry, the EU Trade Commissioner is the one who said this third country thing, and she's implying that the ~2 years of negotiations are only about the terms of exit out of the EU, not trade.
"First you exit then you negotiate," Cecilia Malmstrom told BBC Newsnight.
Which potentially means that after exit negotiations, WTO regulations would kick in until a trade agreement is reached with the EU.
Those factories are in the UK because they give Honda, Nissan, Toyota, BMW MINI, etc access to the EU market. I'm sure they won't be closed tomorrow, but future investment decisions WILL be affected.
Maybe VW Audi and BMW will be driven to opening factories in the UK to avoid the consequences of 10% tariffs in the UK market, and to better access the worldwide market.
if the EU wants to respond to our "political statement" with "economic damage" then go ahead. At least everything will be cheaper in this country and people won't want to work here
Damage your country and it will surely be less appealing to the world , very nice plan .
" After Brexit, the UK would become a "third country" in EU terms, she said - meaning trade would be carried out based on World Trade Organisation rules until a new deal was complete. "
5th richest economy with rich history is now somehow a third world country???? Does this sound stupid to anyone else?
Errr no you might want to read and understand the article first.
She says a third country and not a third wold country , which means something else. Your thread is ridiculously misleading.
Then why are other countries such as Holland considering leaving then?
We'll talk about that when they'll have left. And when Britain itself actually leaves without being dragged into making a deal which will change nothing.