India  

UK announces new post-Brexit global tariff regime

Video Credit: Reuters Studio - Duration: 01:20s - Published
UK announces new post-Brexit global tariff regime

UK announces new post-Brexit global tariff regime

The United Kingdom announced a new post-Brexit tariff regime on Tuesday to replace the European Union's external tariff.

Ciara Lee reports

0
shares
ShareTweetSavePostSend
 

After decades outsourcing its trade policy to the EU, Britain is seeking free trade agreements with countries around the world.

It's on a mission to have deals in place covering 80% of British trade by 2022.

On Tuesday (May 19) the UK announced a new post-Brexit regime to replace the EU's external tariff.

The plan, called the UK Global Tariff keeps a 10% tariff on cars but cuts levies on tens of billions of dollars of supply chain imports.

It's to be enforced from January, and marks a departure from what some UK officials call an overly complex EU system.

Britain is currently negotiating trade deals with both the U.S. and the Brussels-based bloc.

The new regime will maintain tariffs on products competing with industries such as agriculture, automotive and fishing.

But it will remove levies on imports worth 30 billion pounds - about 37 billion dollars - entering UK supply chains.

The government said that while almost all pharmaceuticals and most medical devices, including ventilators, are already tariff-free, some products used to fight the crisis still face duties.

It's introducing a temporary zero rate on these products, including for personal protective equipment from non-EU countries.




💡 newsR Knowledge: Other News Mentions

European Union European Union Economic and political union of European states

EU foreign ministers weigh up response to China and Turkey [Video]

EU foreign ministers weigh up response to China and Turkey

Returning to Brussels for the first face-to-face meeting in months, EU foreign ministers are being urged to take a more robust approach to China over the new security law in Hong Kong, as well as against Ankara over Mediterranean drillings and the Libya arms embargo.View on euronews

Credit: euronews (in English)    Duration: 02:15Published

India, EU to explore meeting ground, start afresh on FTA during summit

India and EU will try and explore meeting ground on the scope of free trade agreement during the virtual summit on Wednesday with the leaders expected to start..
IndiaTimes
Duda re-elected in Poland as new EU battles loom [Video]

Duda re-elected in Poland as new EU battles loom

Polish President Andrzej Duda has won five more years in power on a deeply conservative platform after a closely fought election that is likely to deepen the country's isolation in the European Union. Joe Davies reports.

Credit: Reuters - Politics    Duration: 01:35Published
Poles vote in knife-edge presidential election [Video]

Poles vote in knife-edge presidential election

Incumbent president Andrezj Duda is facing off against liberal Warsaw mayor Rafal Trzaskowski in a presidential election that could determine Poland's future relationship with the European Union. David Doyle reports.

Credit: Reuters - Politics    Duration: 01:16Published

Brexit Brexit The United Kingdom's withdrawal from the European Union

Michael Gove lays out post-Brexit plan [Video]

Michael Gove lays out post-Brexit plan

Cabinet Office minister Michael Gove makes a statement to the Commons, laying out the Government's post-Brexit plan for MPs.Mr Gove said it will “herald changes and significant opportunities” which everyone will need to prepare for.He said the Government’s border operating model does not cover matters relating to the Northern Ireland protocol.

Credit: PA - Press Association STUDIO    Duration: 01:14Published
Buckland on government’s Brexit ad campaign [Video]

Buckland on government’s Brexit ad campaign

Justice Secretary Robert Buckland says the government's new public information campaign on Brexit is "the responsible thing to do". The campaign is intended to help businesses and individuals prepare for the end of the transition period on December 31 when the UK leaves the single market and customs union. Report by Jonesia. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Credit: ODN    Duration: 00:46Published
Brexit briefing: 171 days until the end of the transition period [Video]

Brexit briefing: 171 days until the end of the transition period

The UK left the European Union on January 31. Here we look at the latest figures and key dates in the ongoing Brexit process.

Credit: PA - Press Association STUDIO    Duration: 00:50Published
Brexit: UK to spend €790m on new GB-EU border control systems ready for 2021 [Video]

Brexit: UK to spend €790m on new GB-EU border control systems ready for 2021

Brexit: UK to spend €790m on new GB-EU border control systems ready for 2021

Credit: Euronews English    Duration: 01:29Published

City of Brussels City of Brussels Capital of Belgium

What does Duda's victory mean for EU-Poland relations? [Video]

What does Duda's victory mean for EU-Poland relations?

Brussels and Warsaw have long clashed over judicial reforms in Poland. Is that set to continue? View on euronews

Credit: euronews (in English)    Duration: 01:40Published
Serbia and Kosovo's leaders agree to meet in person for talks in Brussels [Video]

Serbia and Kosovo's leaders agree to meet in person for talks in Brussels

European Union officials praise the two sides, but neither appeared to shift their position on Serbian recognition of KosovoView on euronews

Credit: euronews (in English)    Duration: 01:32Published
Talks to ease Serbia-Kosovo tensions to resume in Brussels [Video]

Talks to ease Serbia-Kosovo tensions to resume in Brussels

On Sunday, the EU will mediate the first high-level meeting between the two sides since November 2018.

Credit: Al Jazeera STUDIO    Duration: 02:51Published

You Might Like

Related news from verified sources

Factbox: Britain sets out new post-Brexit global tariff regime

The United Kingdom announced a new post-Brexit tariff regime on Tuesday to replace the European...
Reuters India - Published

UK sets out post-Brexit tariffs to underpin trade talks

The United Kingdom announced a new post-Brexit tariff regime on Tuesday to give it leverage in trade...
Reuters India - Published


Tweets about this

Benevolentallt1

Dave Shields Post Brexit Britain 👇 GKN Aerospace announces new £32m Global Technology Centre in Bristol https://t.co/UGLaYNKCNk 1 week ago