Majority of UK import tariffs set at zero in a no-deal Brexit | Business News

Britain would slash tariffs on the vast majority of goods entering the country in a no-deal scenario, the government has confirmed.

Ministers announced that 87% of all goods entering the country would face zero tariffs, with import taxes remaining for only 13% of incoming goods.

Sky News reported last week that the scale of the tariff line reduction would be 80-90%.



preview image







No-deal Brexit tariff cuts face criticism

The plan, which would represent a significant liberalisation of UK trade barriers compared with its current tariff schedule, would be temporary and would exclude a selection of sensitive imports, including some agricultural products such as beef, lamb, pork and some dairy, as well as car imports and some other products.

The vast majority of exports will be tariff free.

Trade minister George Hollingbery said: “If we leave without a deal, we will set the majority of our import tariffs to zero, while maintaining tariffs for the most sensitive industries.



preview image







Trade secretary responds to Sky News report on tariffs being cut

“This balanced approach will help to support British jobs and avoid potential price spikes that would hit the poorest households the hardest.”

The government also announced that in the event of a no-deal it would remove all border checks between Ireland and Northern Ireland except a “small number of measures strictly to comply with international obligations, protect the biosecurity of the island of Ireland, or to avoid the highest risks to Northern Ireland business.”

More follows…

Leave A Reply

Your email address will not be published.