Ed Balls Speech on the EU Referendum at Stansted Airport.

The video discusses the benefits of the EU single market, highlighting a 75% price reduction for consumers since 2007. It explores the potential consequences of the UK leaving the EU, including the imposition of tariffs on exports and imports. The complexity of trade negotiations and the need for strategic tariff decisions are emphasized. A simplified approach to aligning UK tariffs with EU tariffs is proposed to manage trade effectively.

In what way could the UK's bargaining position be compromised during trade negotiations?

What does the speaker suggest would be a necessary approach to tariffs if the UK leaves the EU?