It’s not as simple as that.
In a no deal exit scenario, on the day we leave, we lose the benefit of free trade with the EU. We also lose the benefit of free trade with all the countries the EU has a trade deal with (including Chile and South Africa, for those of you who like wine).
We start trading on WTO rules, which means we quickly find out what the “most favoured nation” rule means. In a nutshell, we have to trade with every country on equal terms unless we have a free trade agreement with that country or trading bloc. We can’t just abolish tariffs for our favourite friendly wine producing country without offering everyone else the same terms. So we need trade agreements if we want to be selective.
But on the day we exit, we will have no trade agreements, and these take time to negotiate. Tricky. Plus, every country in the world knows that we will be desperate for free trade agreements, so whatever we want from them, you can guarantee they are going to want something of equal value (and then some) in return.
Also, many countries may not be free to give us a sweet trade deal, because a lot of them have a mini version of the most favoured nation clause in their existing trade agreements, which means they can’t offer us anything better than they have offered their other trade partners (such as the EU, for example), without offering the same deal to that trade partner. Without being entitled to anything from that trade partner in return.
So in reality, the cost of any imported wine (i.e. nearly all wine) will go up, whether it is from the EU or not, and you will just have to pay the higher price or not drink wine.