He's sort of right though in that you start from WTO terms as a baseline and renegotiate from there. Countries don't necessarily want to trade on WTO terms, which is why they will make alternative trade deals.
Hardly a nail in the coffin for Farage that.
The better question is: 'how long are you expecting the UK to take to negotiate the trade deals (effectively trading on WTO terms) and what industries/sectors will you protect and which ones will have to take a hit?'
It's still an infantile perspective on world trade though as it seems to portray trade as impossible unless you have a trade deal, after which the floodgates open and the money rolls in. Trade deals don't allow trade, they just make it easier or more cost efficient. I was trading with the US this week and neither the EU or Britain has a trade deal with the US. What Farage has proved very effective at is dumbing down international relations whilst at the same time tickling the pride of people who don't really understand it but want Britain (and by proxy themselves) to feel proud that 'we're' doing great things in some way.
You sense the reality of the matter is irrelevant for these folk, as indeed it is irrelevant for Joe, as all that matters is 'we' as an individual nation rather than as a part of a wider collective, are 'winning'. It's not dissimilar to the Olympics affecting your park run puffers or the World Cup your Sunday League cloggers.
