FabSwingers.com > Forums > Politics > UK will lose 40% of its trade with the eu
UK will lose 40% of its trade with the eu
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"How will uk cope with this deficit as they havent got any other deals ? It will be a bumpy ride ahead  "
Shag, not sure if you're aware of this but the UK already has a trade deficit with the EU as a full member and has done for years. |
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"How will uk cope with this deficit as they havent got any other deals ? It will be a bumpy ride ahead
Haribo will be rationed. "
They make it in Pontefract, West Yorkshire. Yvette Cooper's constituency. She voted Remain. Her constituents voted for Brexit! |
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By (user no longer on site) OP
over a year ago
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"How will uk cope with this deficit as they havent got any other deals ? It will be a bumpy ride ahead
Haribo will be rationed. "
Yes, half a bag to each one |
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By (user no longer on site) OP
over a year ago
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"How will uk cope with this deficit as they havent got any other deals ? It will be a bumpy ride ahead
Shag, not sure if you're aware of this but the UK already has a trade deficit with the EU as a full member and has done for years. "
I did know abit of that, but yes, they will be in more deficit after leaving. |
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By *LCCCouple
over a year ago
Cambridge |
"There won't be, because we will be importing far less from the EU, when we leave, and importing from outside the EU, so the trade deficit to the EU will actually improve."
What are you going to stop buying from EU member states and start buying from outside the EU? |
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"Whatever I can't get in the UK and that starts coming in from the Australia, New Zealand, and America.
Fine wine for a start."
How is importing things from half way across the world better than from neighbor countries?  |
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"Whatever I can't get in the UK and that starts coming in from the Australia, New Zealand, and America.
Fine wine for a start.
How is importing things from half way across the world better than from neighbor countries? "
Some companies are already ahead of the curve on this. Take popular pub chain Wetherspoon for instance, they're already stocking less European beer and wine in favour of brands from outside of the EU.  |
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"Bmw cars too many now so let's put import tax on the buggers..x"
Just like Trump threatened to. If we do that, then Merkel will tell D*unker and Barnier to sort a deal out.
Just like she did when Trump threated to put the same 10% duty on BMW's coming to the USA as the EU puts on Chevrolets coming into the EU.
The EU is a protectionist club for French farmers, with their massive subsidies, and for German industrial output. |
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By (user no longer on site)
over a year ago
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"Bmw cars too many now so let's put import tax on the buggers..x
Just like Trump threatened to. If we do that, then Merkel will tell D*unker and Barnier to sort a deal out.
Just like she did when Trump threated to put the same 10% duty on BMW's coming to the USA as the EU puts on Chevrolets coming into the EU.
The EU is a protectionist club for French farmers, with their massive subsidies, and for German industrial output."
Trump got a good deal for America.
May and her remoaners are getting walked all over and pissed on.
Why can’t we have someone like Trump doing our trade deals? |
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"Bmw cars too many now so let's put import tax on the buggers..x
Just like Trump threatened to. If we do that, then Merkel will tell D*unker and Barnier to sort a deal out.
Just like she did when Trump threated to put the same 10% duty on BMW's coming to the USA as the EU puts on Chevrolets coming into the EU.
The EU is a protectionist club for French farmers, with their massive subsidies, and for German industrial output.
Trump got a good deal for America.
May and her remoaners are getting walked all over and pissed on.
Why can’t we have someone like Trump doing our trade deals?"
I'd like to think that's because the Brits are a little smarter than the Americans and wouldn't vote for a broke scammer who knows nothing about politics. I hope I'm not wrong tho... |
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By *ara JTV/TS
over a year ago
Bristol East |
I don't understand why you think UK will lose 40 per cent of trade.
The UK moves from trading under agreements reached by and within the EU to WTO rules.
All imports and exports are carried out in line with WTO rules.
I believe that will make the price of imports and exports more expensive.
You'll still be able to buy that expensive BMW - you'll just have to pay more tax on it.
UK exports I imagine become less competitive.
Exporting and importing will continue, but the volume may diminish. The percentage coming and going from the EU27 probably won't change - it will just be become bureaucratic and more expensive to do so.
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"I don't understand why you think UK will lose 40 per cent of trade.
The UK moves from trading under agreements reached by and within the EU to WTO rules.
All imports and exports are carried out in line with WTO rules.
I believe that will make the price of imports and exports more expensive.
You'll still be able to buy that expensive BMW - you'll just have to pay more tax on it.
UK exports I imagine become less competitive.
Exporting and importing will continue, but the volume may diminish. The percentage coming and going from the EU27 probably won't change - it will just be become bureaucratic and more expensive to do so.
"
All the evidence so far points to UK exports being more competitive in global markets due to the lower value pound. |
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By (user no longer on site)
over a year ago
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Is that because it’s winning from trade deals and a low pound ? I’ve not looked to see where the hot spots are.
Where I’m lost is what has changed which means we can now buy non EU wine etc. Because it sounds like something was stopping us ... |
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By (user no longer on site)
over a year ago
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"I don't understand why you think UK will lose 40 per cent of trade.
The UK moves from trading under agreements reached by and within the EU to WTO rules.
All imports and exports are carried out in line with WTO rules.
I believe that will make the price of imports and exports more expensive.
You'll still be able to buy that expensive BMW - you'll just have to pay more tax on it.
UK exports I imagine become less competitive.
Exporting and importing will continue, but the volume may diminish. The percentage coming and going from the EU27 probably won't change - it will just be become bureaucratic and more expensive to do so.
All the evidence so far points to UK exports being more competitive in global markets due to the lower value pound. "
Higher WTO tariffs though for the years while we're negotiating trade deals. |
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"Is that because it’s winning from trade deals and a low pound ? I’ve not looked to see where the hot spots are.
Where I’m lost is what has changed which means we can now buy non EU wine etc. Because it sounds like something was stopping us ..."
It's just that EU wine will become more expensive after we leave the EU, but we've always had wine from all over the world, and will continue to have. I think that is safe to say :P |
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By *LCCCouple
over a year ago
Cambridge |
"What are you going to stop buying from EU member states and start buying from outside the EU?
Whatever I can't get in the UK and that starts coming in from the Australia, New Zealand, and America.
Fine wine for a start."
Why aren't you buying those things already? |
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"Is that because it’s winning from trade deals and a low pound ? I’ve not looked to see where the hot spots are.
Where I’m lost is what has changed which means we can now buy non EU wine etc. Because it sounds like something was stopping us ..."
Exports could increase due to weaker pound which is good for those business owners. But even that will depend on having trade deals in place. And imported goods will become more expensive. |
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By *mmabluTV/TS
over a year ago
upton wirral |
"How will uk cope with this deficit as they havent got any other deals ? It will be a bumpy ride ahead "
Another stupid comment get a grip,it is just a prediction with no basis.
Best to ask a phycic they are just as likely to be right. |
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By *mmabluTV/TS
over a year ago
upton wirral |
"Is that because it’s winning from trade deals and a low pound ? I’ve not looked to see where the hot spots are.
Where I’m lost is what has changed which means we can now buy non EU wine etc. Because it sounds like something was stopping us ...
Exports could increase due to weaker pound which is good for those business owners. But even that will depend on having trade deals in place. And imported goods will become more expensive."
 |
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By *ara JTV/TS
over a year ago
Bristol East |
Presumably, all UK exports to the rest of the world at present are conducted in line with whatever agreements the EU has with those countries.
If a UK manufacturer sells beer cans to, say, Brazil, will WTO rules be more or less advantageous than the EU/Brazil agreement?
I suspect the latter.
The devaluation of the £ by the markets reflects their take on UK's Brexit prospects.
So any gains on the roundabouts may well be lost on the swings.
Similiarly, is a bottle of wine imported from Australia under EU/Aus terms less or more expensive on WTO terms?
I don't know. I think there are an awful lot of things we don't know yet.
I'm fairly sure about one thing, though - if there is a penalty to be paid, it will be those on the lowest incomes who suffer the most.
Which would be a terrible irony in light of those recent findings that austerity imposed on low-income groups was a significant factor, especially in northern areas, when it came to the 2016 referendum. |
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By (user no longer on site)
over a year ago
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I doubt it very much if no deal is the case we are free to do what ever deal we want with rest of the world all the commonwealth will do deals America will China will India will should I go on I happen to think a no deal would be best for us as a country nothing else |
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"Presumably, all UK exports to the rest of the world at present are conducted in line with whatever agreements the EU has with those countries.
If a UK manufacturer sells beer cans to, say, Brazil, will WTO rules be more or less advantageous than the EU/Brazil agreement?
I suspect the latter.
The devaluation of the £ by the markets reflects their take on UK's Brexit prospects.
So any gains on the roundabouts may well be lost on the swings.
Similiarly, is a bottle of wine imported from Australia under EU/Aus terms less or more expensive on WTO terms?
I don't know. I think there are an awful lot of things we don't know yet.
I'm fairly sure about one thing, though - if there is a penalty to be paid, it will be those on the lowest incomes who suffer the most.
Which would be a terrible irony in light of those recent findings that austerity imposed on low-income groups was a significant factor, especially in northern areas, when it came to the 2016 referendum."
It is ironic (in a cruel way) that the low income groups suffered the most from globalisation and are suffering the most from protectionism as well. |
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"What are you going to stop buying from EU member states and start buying from outside the EU?
Whatever I can't get in the UK and that starts coming in from the Australia, New Zealand, and America.
Fine wine for a start.
Why aren't you buying those things already? "
Probably because as a member of the EU, the EU's external tariff barrier makes goods from the rest of the world outside more expensive. |
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"
All the evidence so far points to UK exports being more competitive in global markets due to the lower value pound.
And imports conversely become more expensive."
Not necessarily from outside of the EU as after Brexit we can remove the EU's external tariff barrier. |
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By *LCCCouple
over a year ago
Cambridge |
"
All the evidence so far points to UK exports being more competitive in global markets due to the lower value pound.
And imports conversely become more expensive.
Not necessarily from outside of the EU as after Brexit we can remove the EU's external tariff barrier. "
We CAN but we are NOT. Fox has copied the WTO schedule directly from the EU. |
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By *LCCCouple
over a year ago
Cambridge |
"What are you going to stop buying from EU member states and start buying from outside the EU?
Whatever I can't get in the UK and that starts coming in from the Australia, New Zealand, and America.
Fine wine for a start.
Why aren't you buying those things already?
Probably because as a member of the EU, the EU's external tariff barrier makes goods from the rest of the world outside more expensive."
So you are saying the Andy is too poor to afford fine wines from outside the EU? |
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"What are you going to stop buying from EU member states and start buying from outside the EU?
Whatever I can't get in the UK and that starts coming in from the Australia, New Zealand, and America.
Fine wine for a start.
Why aren't you buying those things already?
Probably because as a member of the EU, the EU's external tariff barrier makes goods from the rest of the world outside more expensive."
Wine from Australia, Chile or California goes for about the same price as French, Italian or Spanish. Easily checked by going to any supermarket. |
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"What are you going to stop buying from EU member states and start buying from outside the EU?
Whatever I can't get in the UK and that starts coming in from the Australia, New Zealand, and America.
Fine wine for a start.
Why aren't you buying those things already?
Probably because as a member of the EU, the EU's external tariff barrier makes goods from the rest of the world outside more expensive.
Wine from Australia, Chile or California goes for about the same price as French, Italian or Spanish. Easily checked by going to any supermarket. "
After Brexit the wine from Australia, California, or Chile could potentially be more cheaper than French, Italian or Spanish as the EU's external tariff barrier can be removed. |
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By *LCCCouple
over a year ago
Cambridge |
"What are you going to stop buying from EU member states and start buying from outside the EU?
Whatever I can't get in the UK and that starts coming in from the Australia, New Zealand, and America.
Fine wine for a start.
Why aren't you buying those things already?
Probably because as a member of the EU, the EU's external tariff barrier makes goods from the rest of the world outside more expensive.
Wine from Australia, Chile or California goes for about the same price as French, Italian or Spanish. Easily checked by going to any supermarket.
After Brexit the wine from Australia, California, or Chile could potentially be more cheaper than French, Italian or Spanish as the EU's external tariff barrier can be removed. "
But it won't be. Fox has copied the WTO schedule directly from the EU. |
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"What are you going to stop buying from EU member states and start buying from outside the EU?
Whatever I can't get in the UK and that starts coming in from the Australia, New Zealand, and America.
Fine wine for a start.
Why aren't you buying those things already?
Probably because as a member of the EU, the EU's external tariff barrier makes goods from the rest of the world outside more expensive.
Wine from Australia, Chile or California goes for about the same price as French, Italian or Spanish. Easily checked by going to any supermarket.
After Brexit the wine from Australia, California, or Chile could potentially be more cheaper than French, Italian or Spanish as the EU's external tariff barrier can be removed.
But it won't be. Fox has copied the WTO schedule directly from the EU. "
.....for now, that's not to say it won't be changed after Brexit making goods from the rest of the world outside of the EU much cheaper than they are now. |
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By *LCCCouple
over a year ago
Cambridge |
"What are you going to stop buying from EU member states and start buying from outside the EU?
Whatever I can't get in the UK and that starts coming in from the Australia, New Zealand, and America.
Fine wine for a start.
Why aren't you buying those things already?
Probably because as a member of the EU, the EU's external tariff barrier makes goods from the rest of the world outside more expensive.
Wine from Australia, Chile or California goes for about the same price as French, Italian or Spanish. Easily checked by going to any supermarket.
After Brexit the wine from Australia, California, or Chile could potentially be more cheaper than French, Italian or Spanish as the EU's external tariff barrier can be removed.
But it won't be. Fox has copied the WTO schedule directly from the EU.
.....for now, that's not to say it won't be changed after Brexit making goods from the rest of the world outside of the EU much cheaper than they are now. "
The schedule needs unanimous approval from every member of the WTO. It's 719 pages long. The US, Canada and Australia have already said the disapprove of the schedule. It is unlikely that after spending 2 years working on this, Fox is planning in changing it anytime soon. |
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