The UK government has published its post-Brexit tariff regime, called the UK Global Tariff, that promises to cut levies on tens of billions of dollars of imports and reduce unnecessary trade barriers, according to a statement by the Department for International Trade and the Treasury on Tuesday
MOSCOW (Pakistan Point News / Sputnik - 19th May, 2020) The UK government has published its post-Brexit tariff regime, called the UK Global Tariff, that promises to cut levies on tens of billions of Dollars of imports and reduce unnecessary trade barriers, according to a statement by the Department for International Trade and the Treasury on Tuesday.
"Our new Global Tariff will benefit UK consumers and households by cutting red tape and reducing the cost of thousands of everyday products," International Trade Secretary Liz Truss said in a statement.
As part of the new regulations, tariffs on a range of products, such as dishwashers, sanitary products, and Christmas trees, worth a total of 30 billion Pounds ($36.7 billion) will be waived, the government said.
All tariffs on pharmaceuticals and medical devices used to treat COVID-19 have been temporarily waived, and all tariffs and VAT on personal protective equipment, disinfectant, and medical supplies from non-EU countries have been removed, according to the statement.
The United Kingdom left the European Union in January, completing a process that began with the Brexit referendum held in June 2016. A transition period is currently in effect until December 31, giving Brussels and London time to conclude a range of agreements, the most important of which is a free trade deal.
EU and UK negotiators met for the third round of negotiations on the future relationship between the two parties, although leading officials in Brussels and London have bemoaned the lack of progress made to date.
