EU countries to pay higher tariffs than UK after Brexit: report
Shipping containers and vehicles wait to be loaded for export at Liverpool Docks | Christopher Furlong/Getty Images
Without a new trade agreement between the EU and U.K. by the time Britain leaves the bloc, 22 of the 27 remaining countries would pay more in tariffs than their British counterparts when exporting goods to the U.K., according to a report by think thank Civitas.
British exporters may have to pay as much as £5.2 billion a year in tariffs on goods sold to the EU if they were forced to rely on World Trade Organization membership, while their EU counterparts would face £12.9 billion in tariffs on goods exported to the U.K.
German exporters, particularly car manufacturers, would be hit by £3.4 billion of tariffs, while French companies could face a £1.4 billion tariff bill, Civitas said.