[robertony]

Sorry, I should have phrased that better.

When I said "reduced economic activity in the EU", I mean as a whole. This is an over simplfiication, but imagine a situation where everything is 20% more expensive than the normal asking price, this leads to less purchases being made as a whole. It doesn't matter if you're purchasing from outside the EU too, because it's still 20% more expensive. The overall economic activity in such an area is simply reduced.

The trade numbers simply are the way they are because importing doesn't really reduce the costs either. It should also be noted that exporting products outside of the EU has additional fees that make us less competitive than the alternatives outside of the EU too, so our exports are impacted too.