Potential Impact of WTO Tariffs on Cross-Border Trade - report
We have recently published a report examining the potential impact of trade between Ireland, Northern Ireland and Great Britian in the case of the application of EU third-country tariffs (as registered with the WTO) being applied and an increase in non-tariff basrriers on goods trade.
The scenarios presented highlight the large variation in the product and sectoral exposure to changes in tariffs and nontariff barriers.
The main findings of the scenario analysis include :
Products with the highest tariffs are mainly in the food, clothes and tobacco sectors.
WTO tariffs are levied on specific product lines and the variation across products can range from 0% to over 80%.
Applying the WTO tariff schedule to 2016 trade levels is estimated to have an effect on reducing cross-border trade by 9%
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