Will Brexit bring prices down in UK if we do a WTO deal


#1

Just curious as we wont have to pay tarrifs or customs charges with WTO deals(i think)


#2

“[Will Brexit bring prices down in UK”

Nope.


#3

Sabana asking the real questions.

Who knows what will happen. My read: If we go to WTO, prices go up due to tariffs and further currency devaluation, at least until trade deals are worked out with each country/bloc. If we have some kind of free trade agreement with the EU, currency may revert to pre brexit levels and things may become cheaper again.

While I’m here: fuck brexit, and everything that led us to it.


#4

Taking into consideration that GBP may weaken further if it crashes out on its own and that WTO arrangements, which are controversially assumed available by Brexit promoters, are intended as the first resort, worst set of tariffs (designed for emerging nations before they can negotiate their own trade deals) it seems very unlikely that the price of imports to the UK are going to be anything but much higher in real terms.
The irony is that trade deals are two-way arrangements and the UK will need to sacrifice something significant in each case in order to negotiate any deal with nations outside the EU, or to get a better deal with nations it currently already has a far sweeter deal with due to being a member of the EU bloc.


#5

The irony is that trade deals are two-way arrangements and the UK will need to sacrifice something significant in each case in order to negotiate any deal with nations outside the EU

the NHS perhaps


#6

We might get cheaper food which in turn makes our own grown food harder to sell and more industries go bust.
WTO are base tariffs that no one else uses , they all have trade deals that are better than wto

Politicians either knowingly deceive the public or just don’t understand things.


#7

The weak pound has certainly made many of my purchases (software in $ and European orders from Thomann etc) in the last couple of years be 20% more expensive. Going WTO will only make rhi# worse as far as I.can see.


#8

My holiday this year was up about 30% on previous years. Stupid Brexit


#9

I have my sister living there.
I don’t think so, Norway is i think in the some kind of a trade and economic deal with EU, nevertheless, i still had to pay taxes and customs for the gift i have received from Norway. Same if i would send something there to my friends. That is the whole point of EU i guess, other than political reasons, it is mainly economy union, wenn you are out, you are out.


#10

Brittish pound will lose a lot of value due to bad economic situation
This might help creating jobs
But importing will be expensive
And Uk imports most food

So life will be more expensive

But maybe not as expensive as when italy (and then also france will go) goes bankrupt, and uk is stil in eu


#11

I think these things are quite complicated to predict, with the amount of unrest among many EU member states about the EU it is clear that the EU itself is going to change significantly over the next few years, or possibly be replaced by something completely different.

Aside from WTO there is also CANZUK which some believe could be a very viable alternative, but really as the 5th largest economy globally then I don’t think any worry is needed. Fact is the UK buy more from the EU than sell to it, given that the UK is also one of the largest contributors I’m rather surprised that the EU wasn’t more keen to negotiate, seems kind of stupid and short sighted of the EU.

The thing to keep in mind is trade barriers are in no ones interest, the UK has a very attractive economy, all the scaremongering by the likes of the BBC, Sky etc would have you believe we are some pathetic little region that depends on the EU for its very existence, and that no other country could possibly give us a good deal, and that trade deals take such huge amounts of time to negotiate etc etc.


#12

the EU have to make leaving it seem like a very bad idea, otherwise there could be a run of nation exits leading to the downfall of the eu. so the UK is going to get reamed.


#13

Still, at least we’ll be able to vote in those WTO elections eh?


#14

This thread is heading in the same direction of brexit threads elsewhere.
It won’t end well


#15

Who knows. With the right decisions the pound could gain in value.

We’ll just have to wait till the dust settles.

Mind you all fiat currencies are on their way to zero. :wink:


#16

Sounds like a problem for the NEXT generation- I’m sure they’ll figure something out :smiley:


#17

… even if we do stay (as I hope we will) there is still the thorny unresolved question of the Treaty of Lisbon.
Beyond that we’re all still caught in the aftermath and fall out of the Crash of 2008 - and from that perspective anything is possible.


#18

Probably didn’t want to negotiate because that’s not what was presented. It was we are leaving your corrupt regime, not there are issues with the EU and we wish to re negotiate

A united front to tackle issues within the EU would have been the obvious tactic but here we are swimming in a sea of turd


#19

After Mr. Trump advised the UK to go for a no-deal-Brexit and having very kind words for Mr. B. Johnson and Mr. N. Farage, everybody in the UK should get a little worried about the friends of the UK … :thinking:

IMO there are some powerful leaders quite interested to destabilize Europe. There must be a reason for it.

If we look into our history books … wasn’t there this ancient guy with this “divide et impera” strategy? I think it was Niccolò Machiavelli, who was a great philanthropist, wasn’t he?


#20

My notion is that once we flag off the biggest trade block things should get a lot cheaper here. And the NHS will receive around 350 million a wk too. The EU is really going to regret the day we left because 1 divided by 27 is really a much more complicated figure to consider than 27 divided by 1.
Also, to me, Aaron Bank seems like he really knows his shit.