Fox tests tariff-free trade and nets Brexit backlash
By Adam Parsons, business correspondent For years now, people have been suggesting that Britain might leave behind the European Union, forget all tariffs and create a new way of trading with the world.The idea is that cheap imports would drive down prices for domestic and business consumers. That the threat of being beaten by low-prices Chinese rivals would make British businesses become more efficient, or perhaps provoke them into moving into other areas.It is, in some respects, the very acme of a capitalist model - that we put ourselves at the mercy of the economic tides of the world. If a British industry can't compete with global competitors then it withers.If that sounds brutal, that's because it is.Patrick Minford, the economist whose work influence...
