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Default OT: Customs duty, a cautionary tale

On 13/05/2021 17:43, Steve Walker wrote:

But it is a net benefit to the UK, as the balance of trade with the EU
is heavily biased to importing rather than exporting.


In 2019, UK exports to the EU were £294 billion (43% of all UK exports).
UK imports from the EU were £374 billion (52% of all UK imports).


So, the benefit is £16bn? Except that exports are down, as nobody can do
the paperwork.