Written in collaboration with Dr Oleksandr Shepotylo from the University of Bradford, the article explained that when countries trade, they have historically imposed tariffs on imports from other countries, such as clothes, food and beverages. Such tariffs would become more costly for these exporters and other countries affected following a no-deal Brexit.
It was also explained that a no-deal Brexit would affect costly non-tariff barriers, which are regulations on product safety, rules of origin and quotas.
“Things such as medicines, product and food safety standards in the UK are currently recognised as EU ones. But when the UK leaves the EU, UK manufacturers may need conformity assessments from the EU recognised body, which is a legal responsibility of an EU importer. This would mean that UK exports would take longer to reach the EU markets and the UK products would be more expensive in the EU,” the authors explained.