Post-Brexit UK exports could fall By $32 billion due to non-tariff measures and tariffs: UN Study
- The UK risks losing up to 14% of its exports to the EU in a “no-deal” Brexit
- Non-tariff measures would double losses from tariffs, estimated at 5%-7%
- In a no-deal scenario, Ireland’s exports to the UK are expected to drop 10% as a result of non-tariff measures and tariffs
- Mounting trade costs due to non-tariff measures and potentially rising tariffs would more than double the adverse economic effects of Brexit for the UK, the EU and developing countries
Geneva, 25 February 2020 - Non-tariff measures (NTMs) could cause major fractures in post-exit trade relations between the United Kingdom (UK) and the European Union (EU), knocking up to US$32 billion, or 14 per cent, off of UK exports to the EU, according to a new UNCTAD study.
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