"No deal is better than a bad deal." So said Britain's Prime Minister Theresa May, clarifying her country's position on Brexit negotiations with the EU. In the absence of a deal with the EU Britain would “revert to WTO rules” after Brexit. But what does that mean, exactly? The Inquiry has the answer.

(Photo: German Chancellor Angela Merkel and Britain's Prime Minister Theresa May arrive for a statement prior to a meeting at the Chancellery in Berlin, Germany, on November 18, 2016. Credit: Getty Images)