UK Government New Global (MFN Applied) Tariff
19th May 2020
Fresh off the press, the UK government published the new Global (MFN Applied) Tariff.
By following this link you can instantly check how the products you import will be affected from the 1st January 2021, when the Brexit transition deal has ended: www.gov.uk/check-tariffs-1-january-2021
Overall, the tariffs in general are closer to the existing EU tariff schedule than the no deal scenario which is good news.
It features a number of initiatives:
- Liberalisation: Removing tariffs on products which are used in UK production, not made in the UK or are a nuisance tariff of below 2%
- Simplification: Rounding tariffs down and moving complex agricultural tariffs to a single percentage
£30 billion worth of imports for supply chains are now tariff free backing UK business.
Please check your commodity codes to assess the impact on your business.