Tariff Announced For No Deal
Following yesterday’s vote to reject Prime Minister May’s Brexit proposal, the government has confirmed that most imports into the UK will not be subject to a tariff in the event of a no-deal Brexit.
It was confirmed that a temporary scheme would mean that around 87% of EU imports could be eligible for zero-tariff access. However, tariffs would be maintained to protect some industries, including products such as beef, lamb, poultry and dairy.
Also confirmed was the intention to not introduce any new controls, or the need for customs declaration, for goods moving across the border from Ireland to Northern Ireland in the event of no deal.
These arrangements, which will be introduced to support British jobs and to avoid price spikes that could hit British households, will be temporary until a longer term solution can be negotiated.
The no-deal scenario continues to loom large for the UK as MP’s vote today whether to leave with no deal on 29th March. Even if they decide against, there is still the chance that the EU could deny an extension.
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