Overseas Trade

Department for International Trade written question – answered on 6th February 2019.

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Photo of Lord Taylor of Warwick Lord Taylor of Warwick Non-affiliated

To ask Her Majesty's Government what plans they have, if any, to switch to trading on World Trade Organisation terms in the event of a no-deal Brexit; and if so, whether they anticipate that such arrangements would allow for frictionless, tariff-free trade.

Photo of Baroness Fairhead Baroness Fairhead The Minister of State, Department for International Trade

The UK has lodged its independent schedules at the World Trade Organisation (WTO), on which it would be able to trade in the event of a no deal.

As a responsible government, we will continue to plan for all scenarios including the possibility of the UK leaving the EU without an agreement. By necessity, this means trading on WTO terms, including paying the tariffs levied by WTO members on imports to their markets where there is no preferential agreement.

The UK will be able to decide its own tariff policy when we leave the EU. The Government is looking at a spectrum of options and is carefully considering the evidence available before making a final decision in the interests of industry and consumers.

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