This Is Unberliverble but True. EU’s trade surplus with The UK Tops £1 TRILLION In 20 Years From The Year 2000
By: Graham Lear
Tags: Brexit

In the 20 years to 2019, the EU27’s SURPLUS in its trade in goods with the UK surpassed the £1 trillion mark. That’s one TRILLION. Pounds, not Euros.

Strangely, no-one from the EU nor from the mainstream media has mentioned this.

EU member states’ trade in goods with the UK in the last 20 years, 2000–2019

Exports to the UK: £3,836,536 million (£3.8 trillion)

Imports from the UK: £2,774,495 million (£2.8 trillion)

The trade surplus with the UK: £1,060,606 million (£1 trillion)

The sheer scale of the EU’s unlevel playing field beggars belief

In the past 20 years, the EU countries’ goods exports to the UK were £1,060,606,000,000 more than their goods imports from the UK.

This is the playing field on which the EU has spent the last four-and-a-half years imposing draconian terms on the UK and claiming that the UK must not be allowed to “threaten the integrity of the Single Market with unfair competition”.

It beggars belief that it is the EU which has acted like this, when in fact it is the UK that has every right to demand stiff trading terms from the EU, not the other way around.

The economist Professor David Blake explained how the structurally undervalued Euro has enabled EU countries to ‘dump’ goods onto the UK market, leaving many British companies unable to compete effectively.

How the EU’s Euro currency has been used to dump its goods at artificially-reduced prices onto the UK and world markets for years How this has increased the massive trade deficit which the UK has with the EU How Germany has benefited most of all The risks of the Euro to the UK and the World The opportunities for Brexit Britain to counter the threat and deal with it. https://graham100200.medium.com/what-you-are-about-to-read-is-an-eu-conjuring-trick-6cce8ba97b46

It can certainly be argued that the huge imbalance in trade between the EU and the UK in the 20 years since the Euro’s inception is the ‘smoking gun’ which proves the case.

“But what about services?”

Before Remainers start deflecting as usual and say “But what about services?”, three basic facts need to be pointed out.

This ‘trade deal’ is about goods and the EU’s attempts to interfere in the UK’s constitution, its internal laws, and its fiscal, environmental, and societal standards. The EU has repeatedly refused to discuss a full agreement encompassing services — the UK’s strength. The UK runs a relatively small surplus in services with the EU — far less than to the rest of the world — but even if this were included the EU would still have a £0.83 trillion surplus. When talking about “protecting the integrity of the Single Market”, the EU is primarily talking about trade in goods as this is what the Single Market has been all about.

Let me remind everyone that the Single Market never worked for services, by the admission of the EU Commission itself.

“The Single Market — this jewel that is all too often taken for granted –

does not function properly for services- Elżbieta Bieńkowska, EU Commissioner for the Single Market, 2017

It scarcely seems credible that the UK is still talking to the EU about a ‘trade deal’, given the continuing absurdity of the EU’s arguments regarding its Single Market. Yet that, apparently, is exactly what is still happening.

The MEPs of the EU Parliament have now issued an ultimatum that a deal must be agreed by midnight on Sunday, or they will refuse to discuss and ratify it by 31 December. We wish that MPs in the House of Commons had issued a similar ultimatum back in June — or at the latest by another one of the PM’s many missed deadlines, on 15 October. This deal will require major scrutiny over a great many weeks.

The raw facts above demonstrate very clearly that it is the UK that should be imposing demands on the EU, in order to protect the single market of the United Kingdom. As this has not been done, and as the UK is seemingly now giving up more and more of its sovereignty in the form of concessions, I see no possibility of any ‘trade deal’ being remotely acceptable.

we must urge the Prime Minister to walk away and then rescind and void the Withdrawal Agreement and Political Declaration on the grounds of the EU’s bad faith and failure to agree on a normal trade deal.

Even at this late hour Boris Johnson still has the opportunity to become a hero of democracy and freedom, and to deliver a genuinely free, independent, and sovereign the United Kingdom to the people. I hope he seizes the moment.

[ Sources: HoCL | ONS | EU Commission ]