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Yorkshire Times
Voice of the North
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1:03 AM 19th May 2020

Business Responds To Publication Of UK Trade Tariffs

Commenting on the publication of the UK Global Tariff that will apply to imported goods from 1 January 2021, BCC director-general Adam Marshall said:

Image by Jarosław Bialik from Pixabay
Image by Jarosław Bialik from Pixabay
“The publication of the UK Global Tariff provides welcome clarity for businesses as they prepare for life outside of the EU.

“While the new tariff regime will provide the government with some leverage in future trade talks, it also demonstrates the importance of reaching a UK-EU agreement to avoid substantial increases in costs for businesses on both sides of the Channel.

“With any tariff changes, there are both winners and losers. Support will be required for the industries, places and people affected by tariff changes at what is already a difficult time.”
Josh Hardie, CBI deputy director-general, said:
“The new tariff scheme will provide businesses with much needed clarity on post-Brexit trade. Simplifying the system, scrapping tariffs under 2%, reducing duties on sustainable products are all things firms can work with. Sticking closely to many existing tariff levels will give other countries incentive to agree trade deals with the UK.

“However, businesses will need time to assess the detail and ensuring there’s a system in place to address issues as they arise will be critical. Crucially, firms no. 1 priority is for the government to strike a deal with the EU and ensuring continuity of existing trade deals.”