EU debate: Trade tariffs need explaining

I think it’s fair to say risks both ways have been reasonably addressed. Trade tariffs however appear to have escaped the notice of our more eagle- eyed fellow countrymen and woman.

Tariffs come in many forms as they are effectively taxes that can be imposed by a country on goods they import or export, often both. This is done for many reasons eg Ad valorem tariffs (value based), licenses, import quotas,

voluntary export restraints, local content requirements etc.

This is effectively what the ‘single market’ is about, avoiding as many of these tariffs as possible thus keeping the cost of living for 350 million people in the EU as low as possible. Some (wrongly) believe that if

tariffs are imposed on our exports should we leave the EU, we retaliate by doing similar. This is madness as we then have the ingredients for a trade war. That of course can only result in a disproportionate increase in all our UK living costs.

I feel this needs explaining clearly to everyone before we go to vote Remain or Leave the EU next month. For those that may be interested in reading about this subject more in depth, it can all be found here.

http://www.investopedia.com/articles/economics/08/tariff-trade-barrier-basics.asp

Fred Edwards

Birkdale Close

Durrington

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