An odd feature of the Brexit saga is that so many people have become preoccupied with the supposed economic effects of trade. Recently the particular focus has been the impact of tariffs. Tariff levels are being hotly debated, both in terms of what level is desirable and what level will be possible in a post-Brexit Britain.Three years ago, talk about trade agreements, tariff levels and quota restrictions would mostly have raised mild bemusement, or more likely a yawn. Now we have trade ‘experts’ popping up all over the place with firm views on the form and significance of trading arrangements.

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