Freitag, 3. Februar 2023

Global Industry: The trade cost of a no-deal Brexit

Bremerhaven. (bm) As a member of the European Union (EU), the United Kingdom (UK) is part of about 40 trade agreements through which EU members enjoy preferential market access in about 70 countries. In the event of a no-deal Brexit, and in the absence of replacement agreements (rollover deals), the UK would abruptly lose preferential access to these markets and, by default, would have to export under World Trade Organization Most Favoured Nation (MFN) tariffs. While the UK has already managed to roll over a number of such agreements, negotiations for many others are still ongoing. If these agreements are not concluded before their exit from the EU, Brexit could cost the UK billions in export earnings in key markets – the United Nations Conference on Trade and Development (Unctad) reveals in a new study. Other topics of the week:

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