Brexit FAQ: How will Trade work After Brexit? – BBC News

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Brexit FAQ: How will Trade work After Brexit? – BBC News
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will we be richer or poorer after brexit trade in action at the Port of felixstowe Pennsylvania amount we buy from and sell to the rest of the world would it be affected by brexit well goodnight dear where we’re headed for a second look at where we are now the UK sold 616 billion pounds worth of goods and services to the rest of the world last year old fat we sold 44% of them to the EU important or bought 600 2 billion pounds worth of stuff from the rest of the world and all that we bought 53% of it from the EU so does that mean that they need us more than we need that is much bigger than the UK exports the UK made up just 8% so what happens next is the tricky bit lots of options not so acronym FDA complexity with all these different permutation for the basic principle is this the closer we States the EU small kittens rules and regulations the easier and cheaper it is to trade with the EU for the harder it is to make new trade deals some of the fastest-growing economies around the world free movement of people but importantly freedom to make arrange radials or we could just leave with no deal I told clean break fullback a Wells Trade Organization rules with in Tokyo tariffs on things like calls Elite and this is the one that businesses fair I think it’s be the most disruptive and the most expensive now a lot of people say it’s impossible to forecast what’s going to happen in 15 and that’s probably right so let’s forget about the numbers but just consider this some say the UK already exports a hundred billion pounds worth of stuff the US every year there is no trade deal there just to China every year I might just do that from within the EU so do you need to leave the EU to do more trade with the rest of the world I have a brilliant track record one thing seems widely accepted insurance every right and that is if you make trade with your nearest and biggest volcano cumbersome and more expensive not going to result an economic hit at least in the short-term it may be decades before we really know whether leaving the European Union was good or not so you can trade
BBC’s Business editor Simon Jack looks at what could happen to trade after Brexit?

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