They are celebrating the fact that the UK faces lower tariffs than the EU, but Brexit is actually costing the UK economy more.
Right-wing commentators and media outlets are attempting to spin the fact that Donald Trump has imposed 10% tariffs on UK goods, instead of the 20% tariff on EU goods, as a “Brexit benefit”.
While Brexiteers promised that the UK would be able to negotiate a new trade deal with the US after leaving the EU, nine years later there isn’t one in place, and yesterday Trump slapped extra taxes on UK goods.
Anti-Brexit campaigner and co-founder of pro-EU advocacy group Our Future Our Choice, Femi Oluwole, explained precisely why the tariffs are not a “Brexit success”.
The Office for Budget Responsibility (OBR) estimated that Brexit will reduce the UK’s GDP in the long-run by around 4% (over £100 billion) per year compared to remaining in the EU.
Former BBC broadcaster Andrew Neil, who is now a Daily Mail Columnist, said on X: “Trump’s new tariffs are something of victory for Keir Starmer’s diplomacy. Britain gets off lightly with a 10% tariff on UK exports to America, the minimum new tariff on all exports into the US v 20% on the European Union. Bloody Brexit.”
Oluwole replied: “This is embarrassing Andy.
“Just say you can’t count. A 20% tariff would have cost us 0.8% GDP.
“So at BEST, Brexit saved us 0.4% GDP in US trade, at the expense of a 4% GDP loss from EU trade.”
Olivia Barber is a reporter at Left Foot Forward
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