Would leaving the European Union ('EU') endanger jobs and
trade, and could the EU put up trade barriers against the UK?
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  • When we leave the EU, it cannot put up arbitrary trade barriers against the UK since to do so would be in breach of World Trade Organisation (WTO) rules which govern world trade. And even if they could put up barriers in breach of WTO rules, why would they want to? We have a massive trade deficit with the EU: they sell us far more than we sell them. Penalising us (illegally) would only harm THEM.

  • Britain currently exports goods and services to the EU to the value of £228.9 billion, whereas their exports to us amount to £290.6 billion: therefore we have a trade deficit with the EU of £61.7 billion. Germany, Spain, France, Italy, etc. will still want to sell us their cars, wine, holidays, etc. Trade will continue as normal.

  • Britain's is the fifth largest economy in the world. We are a world-class trading nation; while we have a trade deficit with the EU, we have a trade surplus with the rest of the world. Our trading success stems from hundreds of years of experience, from English being the international language of business and science and from the trust that foreign companies put in the English legal system and contract law. (more)