Virtually every single Brexit outcome is going to damage British trade.

Liam Fox

LONDON — All but one of the realistic scenarios that could emerge once Britain has formally left the European Union would cause the amount of goods Britain exports to tumble, hurting the country's overall trade picture in the process, according to research from Bank of America Merrill Lynch.

Writing in a note last Friday, economists from the US banking giant cited a chart first circulated back on March 13, which illustrates just how big a battle the UK faces to keep its current export levels in the face of leaving the EU.

BAML presents seven separate scenarios, ranging from a "very hard Brexit" — where Britain drops out of the EU without a deal and has to trade using WTO rules — all the way to a "soft Brexit" that includes striking deals with every single country outside the European Economic Area. All but that final scenario would see UK exports fall.



By Will Martin.
Full story at Yahoo News.