Today (19 May 2020), the Government published details of the UK’s new tariff regime, the UK Global Tariff (UKGT). The UKGT will enter into force on 1 January 2021, replacing the EU’s Common External Tariff (CET) at the end of the transition period. It will apply to imports coming into the UK from countries we do not have a trade agreement or other preferential arrangements with.
Our new tariff is tailored to the needs of the UK economy. It will support the country by making it easier and cheaper for businesses to import goods from overseas from 1 January 2021.
It is a simpler, easier to use and lower tariff regime than the EU’s CET and will be in pounds, not euros. The UKGT will scrap red tape and other unnecessary barriers to trade, reduce cost pressures and increase choice for consumers. It will also back UK industries to compete on the global stage.
The UKGT was developed following a public consultation with over 1,300 responses, including businesses, civil society and the general public from across the UK.
For the full details of the UKGT, visit GOV.UK. Businesses should familiarise themselves now with the UKGT ahead of January 2021.
You can also read the summary of responses and the Government’s response to the consultation.