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UK to implement new trade tariffs from 2021

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Christian Fernsby ▼ | February 6, 2020
Britain plans to develop a new tariff schedule which will enter into force at the start of 2021 and will apply to goods from countries where no other trade arrangements are in place, the government said today.
Liz Truss
Business in Britain   Liz Truss
The government has launched a four-week consultation to help shape its new most favoured nation tariff regime, which will be known as the UK Global Tariff. This could include simplifying tariffs and removing tariffs completely on goods where Britain has no domestic production, it said.

Topics: Trade tariffs UK

"It is vitally important that we now move away from complex tariff schedule imposed on us by the European Union," trade minister Liz Truss said in a statement.

"This is our opportunity to set our own tariff strategy that is right for UK consumers and businesses across our country."