Thread by @brexit_politics

@aev1609 @threadreaderapp @johnehonwheeler @Jim_Cornelius @_HenryBolton Oh & the original Tweet in this thread is accurate. Post #Brexit we can reduce our WTO tariffs if we want.

What we can't do is 'force' our trade partners to reduce their WTO tariffs on our exports to them unless we have an FTA with them.
#BrexitFacts >

@aev1609 @threadreaderapp @johnehonwheeler @Jim_Cornelius @_HenryBolton >Could mean imports into the UK get cheaper, but we lose some exports, because though WTO tariffs have gone down a LOT since we joined the EEC/EU they are still higher than FTA tariffs (majority zero rated).

So we could get cheaper imports, but it probably costs us exports.>

@aev1609 @threadreaderapp @johnehonwheeler @Jim_Cornelius @_HenryBolton >What will likely happen is the UK gov keeps the majority of our WTO tariffs close to EU WTO tariffs & uses those as leverage for new FTAs & rolling over current TAs etc.

Basically if we dropped all our WTO tariffs to zero why the hell would any country want an FTA with us?>

@aev1609 @threadreaderapp @johnehonwheeler @Jim_Cornelius @_HenryBolton >One of the reasons for FTAs is to reduce tariffs, if we are zero rated with/without FTAs there's less incentives for other countries to negotiate FTAs.

The whole free trade concept is interesting academically, but it's not a serious option for the UK post #Brexit. #Simplistic