LONDON (Reuters) – Trade minister Liam Fox said on Wednesday he did not support the idea of slashing tariffs on all imports to zero if Britain leaves the European Union without a deal.
British media has reported Fox was considering the move to keep prices low for consumers in the event of a no-deal exit on March 29. Under World Trade Organization rules, Britain would have to apply the same policy to both the EU and the rest of the world.
Concept - Zero - Tariffs - Fox - Lawmakers
“I have not suggested the concept of zero tariffs,” Fox said when asked by lawmakers from parliament’s trade committee about the reports. “Unilateral liberalization is not what I would propose and I have not actually heard anyone else in government propose...
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