LONDON (Reuters) - British trade minister Liam Fox said on Wednesday there were a number of ways in which the government could try to mitigate the impact of low tariffs post-Brexit on vulnerable sectors.
Media have reported the government is planning to slash tariffs on most goods if Britain leaves the European Union without a deal, a decision which would leave some British factories and farms struggling to compete with imports.
Asked by a committee of lawmakers whether the government would be able to support affected sectors, Fox said: “There are well known debates in the country about which sectors might be vulnerable to sudden competition from outside,” citing agriculture as one area of concern.
“There are a number of ways in which the government would be able to mitigate any changes.”
Reporting by Kylie MacLellan and Joe Green; editing by Stephen Addison