FAST FIVE: Biden Threatens Boris Johnson: 'No US Trade Deal Unless Good Friday Accord Respected'
Biden Threatens Boris Johnson: 'No US Trade Deal Unless Good Friday Accord Respected' Tyler Durden Fri, 09/18/2020 – 04:15 In a sign of just how dire the situation is getting for the EU, which has last pretty much all of its leverage over UK Prime Minister Boris Johnson now that he has put down yet another Tory rebellion and marshalled the support he needs to pass the Intermarket Bill.
In a research note published Thursday, the team offered a glimpse of what UK-EU trade under WTO terms would look like.
What would trading under WTO terms look like.
The EU average tariff rate is 5%, but this masks large sectoral differences: 8.9% for consumer goods (and up to 42% for dairy products) vs 2.8% for capital goods – with some goods at 0% (e.g.
cross-border trade in the Single Market) ranging from non-recognition of professional qualifications to non-regulatory equivalence.