Brexit could have detrimental effect on UK imports and exports

Posted on: 19/06/2017

More than half of all UK imports come from other EU countries, but if the UK imposes tariffs or standards diverge after Brexit consumers are likely to face higher prices for a wide range of products, from fruits and vegetables to electronics and cars. In addition, 44 percent of UK exports currently go to the EU market, but some estimates say the loss of access to the EU single market after Brexit could wipe out 30-50 percent of those exports. Similarly, UK exports to countries in which the EU has preferential access may fall once the UK is no longer part of the associated agreements.


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