10 ms·
I don’t understand point 3. Why would the WTO tariff rate matter, are they not maximums? Couldn’t the UK just set import tariffs to 0 for a period?
by redslazer 7y ago
I don’t understand point 3. Why would the WTO tariff rate matter, are they not maximums? Couldn’t the UK just set import tariffs to 0 for a period?
- disgruntledphd2 7y agoNo because of the most favoured nation principle. You have to have the same tax rate for everyone, hence if you set it 0% for EU imports, you need to do the same for everyone, and then no one will do a trade deal with you (as they already have no tariffs).