No-deal Brexit tariff published

Tariffs will be removed from 87% of imports, while some imports including selected foodstuffs and cars will go up, the government announced yesterday.

Goods from the EU are currently tariff-free, but in the case of a no-deal Brexit, World Trade Organization taxes would have been the default position without this intervention.

Tariffs on finished vehicles would be retained, though car makers and other manufacturers relying on EU supply chains may not face additional tariffs on parts imported from the EU to prevent disruption to supply chains.

The new tariff schedule would apply from 11pm on 29 March in the event of a crash out of the EU with no deal and would be in place for up to 12 months, while Parliament figures out a tariff structure it is willing to approve.

The announced tariffs would not apply in Northern Ireland, fuelling fears the region would become a back-door smuggling route to Britain.

In Ireland, goods could travel freely from the republic into Northern Ireland without tariffs or customs checks as part of a “strictly temporary, unilateral approach” designed to avoid a hard border.

Follow this link for Customs duty on imports after EU Brexit – https://www.gov.uk/guidance/check-temporary-rates-of-customs-duty-on-imports-after-eu-exitCustom_House_City_of_London by DHowes9 is licensed under CC