2016.10.2405:33:00UTC+00European companies may face higher tariff rates in UK – study

A research shows EU firms which export products into the United Kingdom may pay a tariff fee that is more than twice higher than entities that ship goods to the country if no trade measure is in place post-Brexit.

Civitas, a think tank seeking to contribute to reestablishing civil society through studies, public debates, projects companies within the European Union would need to pay a £12.9 billion ($15.7 billion) tariff per year if Britain refers to the provisions of the World Trade Organization.

The study added British exporters to the bloc, in exchange, would need to give a £5.2 billion ($6.3 billion) tariff per year.

Authors of the research noted the nation could obtain something of an easier time, in terms of being able to modify its tariff schedule which would benefit its businesses and lower their total tariff payment.