Thread by @fascinatorfun

Mike. If you are going to say that Free Trade is cheaper due to zero tariff you have to remember 1st that the comparator is that we currently import tariff free most of our goods through the EU or through trade treaties with them.

So 80% of our imported food (See cherry tomatoes and beef) is from the EU tariff free! Cherry toms mostly from Spain, Portugal and the U.K.
Quite a lot from Morocco (ex EU) too, but those too are tariff free.

Then you have to be sure you are comparing like for like for quality.

Even when there ARE tariffs they are on a sliding scale (so low when EU production is low, only high when EU production high).

They seem to have taken the highest possible tariff then taken the retail cost inc VAT and taken the notional % off the retail price.

Er. No.

The sliding scale % starts once TRQuotas have been used up (eg 200k tonnes of NZ lamb is tariff free under the quota). The % would only then apply and on the import cost per tonne not on the Retail price!

Then there’s the huge range of goods on no/low tariffs under EBAs or GSPs

So tariffs are a bit complicated.

But it is Non Tariff barriers that will really push the price up and that’s the consequence of coming out of the SM and CU ..you know..certification, physio sanitary certifications & inspections, delays. Far outweighs most tariffs.

Unless the grand plan is to allow any jimcrack Harry to import anything no matter how damn poisonous, how high the emissions in vehicles, how poor quality the food, how unsafe or lead painted the toy, how rubbish the “medicine”, there’s going to be NTB, Regulatory & border costs

That is what the much maligned rich regulatory and compliance procedures, shared institutions and legal framework contained within the SM and CU has done such a fantastic job at reducing.

Hence Canada referring to it as the most sophisticated trading arrangement in the world.

Looking at my recent tax return, and the price of Boris’s organic 🥕🥕🥕🥕I have worked out that my EU contribution costs me about 1 decent organic 🥕a day.

For mostly tariff free decent quality goods

It’s a bargain.
Because we share so many otherwise v expensive institutions