If the UK leaves the EU without a deal the government will slash 80% to 90% of the tariff positions down to zero. Those tariffs are currently required by the EU.

In the event of a nod-deal Brexit (WTO-deal actually), it will be the single biggest liberalization of trade in British history, and most likely the world.


Without a doubt, this is a huge advantage for UK consumers and an unparalleled opportunity.

Meanwhile, it's B minus 23 days and counting.

Mike "Mish" Shedlock

Non-Meaningful: UK's Surprisingly Close Vote to Reject No-Deal Brexit

I expected a vote to prohibit a no-deal Brexit would win by a landslide. It didn't, and no-deal is still the default.

UK Parliament Cannot Stop a Determined PM From Delivering a No-Deal Brexit

A no-deal Brexit is an odds-on favorite. Despite threats of rebellion by some Tories, a determined PM can't be stopped.

UK Prepares for No Deal: Attorney General Says Early Elections Can't Stop Brexit

Another Remainer hope got tossed on the rocks of reality today. There's only one long-shot left.

Brexit Legalities and Plans for No Deal

Plans are underway for no-deal by the EU and finally the UK. The former claims to be prepared.

Binary Choice: No Deal Brexit, Good Deal Brexit

Theresa May's binary choice strategy, her deal or Remain, failed spectacularly. There's a new binary choice option now.

German Carmakers Warn “Seismic” and “Devastating” No Deal Consequences

The German carmakers have finally broken the Brexit silence. Their No Deal consequences are enormous.

Brexit Compromise? Not So Fast! Collapse of UK Governments Just as Likely

Word hit this AM of a Brexit compromise between the UK and the EU. I didn't bite. A deal is one thing, approval another.

Bad Brexit Deal Better Than No Deal? Mathematical Idiocy! Odds of No Deal?

At the top of the list of absurd Brexit advice is the notion that a bad deal is better than no deal. But that’s what Andrew Duff at the European Policy Center says.

No Deal Brexit Odds Rise: UK Thoroughly Rebuked at EU Conference in Salzburg

UK Prime Minister Theresa May presented her "Chequers" Brexit Plan at an EU Summit. She was thoroughly rebuked.