minimize disruption to our financial system we ve worked across whitehall to put in place mitigations that our border although we cannot regulate how do you would operate its border in a no deal except we ve published today our temporary u.k. no deal tariff schedule carefully balancing the needs of producers and consumers in the context of the pressures the no deal economy would face but i need to be straight with the house a no deal bricks it would deliver a significant short to medium term reduction in the productive capacity of the british economy. and what we re hearing there we re actually hearing a plan for britain post that we should have heard two years ago absolutely and remember that the chancellor who we just had that is considered the remain chaunce lahey so it seems to be keen on a soft of brics if there s a brics it s
billion of a trade deficit. $375 billion of it is china. china is not the big exporter of steel and aluminum. it s canada. canada has $582 billion of total trade, ins and outs. china has $636. very close. yet their deficit is 375. canada is only 18. less than 3% of the total trade balance. so coming out with a policy that penalize as country like canada where we have a quid pro quo and we tonight know what previous administrations did in saying, okay, you can have this tariff. i have this one. sneakers in this country have a 48% tariff. let me walk this forward a bit. it s quite possible that he s doing this for posturing and he s trying to renegotiate nafta and wants a better deal for that. maybe that s what is behind this deal tariff in some ways.