ROME – The growing possibility of facing a ‘no deal’ Brexit scenario would have considerable implications for Italy, whose exports to the United Kingdom exceeded 23 billion euros in 2017. European Union (EU)member states are now actively preparing for this catastrophic Brexit scenario, which is considered a more likelysituation by the day.

 For Italy, a no deal Brexit would lead to high tariffs for several key trade sectors and could reduce Italy’s exports to London by more than 10 billion euros a year. Food would have an average duty of 13 per cent, 11 per cent for clothing, and 8.8 per cent for motor vehicles.

 Tariff costs also would be close to 1.3 billion euros for Italian companies that export to the United Kingdom.

 Given the likelihood of a no deal Brexit, Europe has already begun to take counter-measures, stating from Brussels “our customs are ready,” La Corriere della Sera reported.

 “We are putting in place the necessary legislative instruments … member states are now ready, it is a situation that we will be able to manage,” reported sources close to the negotiation process.

 European sources have admitted that member states are “not yet fully prepared," as there are still issues to be resolved “such as tourism flows and health care.” Therefore, over the next few days EU emissaries will head for the EU capitals in order to improve the level of preparedness.

 Moreover, Theresa May met President of the Commission Jean-Claude Juncker Wednesday in Brussels, with the objective of renegotiating the agreement reached last December by modifying the 'backstop' for Northern Ireland.

 However, prior to the meeting Brussels showed no intention of reopening the negotiations as there has been no pressure to do so from any member state. In this deadlock, Britain is heading towards the no deal cliff at the impending date set for Brexit on March 29.

 The negotiations in Brussels underline that it cannot be them who offers the solution, but that the proposals must come from London as, according to Juncker, “There are not enough arrangements, in my opinion, to be able to believe that it will be a productive discussion.”

if