The EU debate - Part III

That's such a dumb argument.

The EU as a collective of 27 nations yes in £ note terms does export more to us than we do to them.

But as individual nations within the collective ? Germany for example relies on us for 7% of their exports, we rely on the EU for 44% of ours.

Who suffers more from the tariffs again?

 

What? If they add a 10% import tariff the price of our goods they increase in the EU by 10%, unless you're suggesting that the manufacturers swallow the 10%?

In which case that doesn't sound very sensible.

 

Yes, exactly.

We are a miniscule part of total EU trade. Most of what we sell to them, although accounting for 44% of our exports, can be bought elsewhere. Especially if it's made prohibitively expensed by tariffs.

In other words, we will be hurt more by tariffs than the EU. So, Lilley is talking out of his arse!

 

see #260

 

Not mine:

UK trade with the EU is circa £144 billion exported and £240 billion imported giving a UK deficit of £96 billion. Not only is this trade in favour of the EU countries but they also benefit from up to 50% greater profits selling into the UK market, than in their own markets. From the factual trade figures it can be concluded that the EU needs the UK more than the UK needs the EU.

 

What is the GDP % that is exported from the UK (worldwide)

10% 20%????

 

Custard, as Tobes and I has already pointed out, we account for a very small percentage amount of overall EU trade. They account for 44% of ours.

Work out for yourself who stands to lose most.,...

 

Irrelevant.,

Read my reply to Custard.

 

Germany is 4.4% of goods
Only two EU countries see us as their primary market. Ireland and Cyprus.
I keep saying this but the tariffs are largely irrelevant with the loser on both sides being the consumer.
The key issue is port delays and costs caused by custom inspections, something that would become mandatory without a deal and would lead to companies facing large delays for the simple fact that UK and European ports are no longer capable of holding these containers while the inspections take place. If UK exporters find they cannot reliably move goods to europe then they will shift that part of production to Europe. We could impose the same but it would just mean food rotting in ports and delays to our own manufacturing that rely on materials from overseas.

 

So why is there a loss?

 

It is relevant. We don't need to raise our prices.

 

No they will be raised for us through increased costs.

 

The UK is a cash cow for Europe (EU), Rip of Britain, as its known, put in tariffs and they lose profit, makes little odds on how much or little the sell to us, they make much more from the UK than any other EU country, now they will lose that with Tariffs, business will not be happy.

 

Yes they'd like to do business with us, of course. But this question is about who had the most to lose if tariffs are imposed. And that's the UK.

Again, Lilley is talking out of his arse,

 

If 44% of all of the UK's total exports go to the EU, and some 12% of total EU exports come to the UK, who loses the most through tariffs?...

 

... it's never gonna happen... and therein lies the real beauty of all of this ... the decades of frustration ahead for the Brexiters are gonna be hilarious

 

How much of the UKs GDP is exported?

 

http://data.worldbank.org/indicator/NE.EXP.GNFS.ZS

 

It's not 12% it's 16%.
Why are you using the percentages of total exports? How is that relevant?
Surely, it's the absolute amounts.

 

Absolute amounts
UK exports £220 billion to EU which is £3,300 per capita (65m)
EU exports £290 billion to UK which is £650 per capita(445m)

Our trade with EU is worth 5 times more to each person in this country than it is to a person in the rest of the EU.
That's is what the risk to our trade represents.