All eyes on Europe as UK ponders ‘Brexit’ vote

All eyes on Europe as UK ponders ‘Brexit’ vote

AUSTRALIA could pay fewer import tariffs should Britain leave the European Union — but a “Brexit” could make life more difficult overall for exporters trying to crack Europe. As the UK prepares to head to the polls next month to decide whether it should stay in the EU, thoughts are turning to what it could mean for Australian trade. Wine Australia said the industry paid more than $42 million in import duties to the UK in 2015. Australia’s main competitors — France, Italy and Spain — paid zero. “If the UK leaves the EU, these duties by default would no longer apply and, as such, level the playing field,” Wine Australia argued in a recent discussion paper.

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