For all you Brexit lovers out there Matt Ridley has written an excellent piece today in the Times. Here's the first two paragraphs and the link. I know you all want to broaden your minds and read other opinions.
"Why does the European Union raise a tariff on coffee? It has no coffee industry to protect so the sole effect is to make coffee more expensive for all Europeans. Even where there is an industry to protect, protectionism hurts far more people than it helps. Last October the EU surreptitiously quintupled the tariff on imported oranges to 16 per cent to protect Spanish citrus producers against competition from South Africa and punish the rest of us. It imposes a tax of 4.7 per cent on imported umbrellas, 15 per cent on unicycles and 16.9 per cent on sports footwear.
I find that many Twitter trolls do not even realise that the European “single market” is actually a fortress protected by high external tariff walls. Yet external tariffs are pure self-harm; they are blockades against your own ports, as the economist Ryan Bourne has pointed out. We impose sanctions on pariah regimes, restricting their imports, not to help their economies but to hurt them. The entire point of producing things is to consume things (the pattern of pay shows that we work to live rather than vice versa), so punishing consumers is perverse. As Adam Smith put it, describing the European Union in advance, “in the mercantile system the interest of the consumer is almost constantly sacrificed to that of the producer”."
For the full article go to here:
https://www.thetimes.co.uk/article/best-hope-for-free-trade-is-to-have-principles-7wgfw2l7v