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Independent trade experts from the UK Trade Policy Observatory (UKTPO) looked at the likely impact of US, Australian and New Zealand free trade deals.
They found that even combined, new tariff-cutting agreements were likely to boost the UK economy by just 0.4%.
A simple free trade deal would also depress the economy UKTPO said.
The body said that moving from full EU membership to a simple deal with our closest trading partner - the objective enshrined in Boris Johnson's Withdrawal Agreement - would depress the size of the economy by at least 1.8%. [...]
UKTPO analysis: How much is a Free Trade Agreement with the US worth to the UK economy?