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@Dammit
It means that our agricultural sector would be finished, I suspect - the Americans can farm at much lower cost as they have much lower standards/use hormones and antibiotics to make up for welfare issues/put on mass fast. With nothing to stop them selling into the UK market out farmers would be priced out. Their choice would be to move to the US farming model, writing off any sales to the EU and sell exclusively to the UK, or go bust.