The Government has announced the UK’s new MFN tariff regime, the UK Global Tariff (UKGT).
The Government has this morning (19 May) announced the UK’s new MFN tariff regime, the UK Global Tariff (UKGT). This will replace the EU’s Common External Tariff on 1 January 2021 at the end of the Transition Period.
The government ran a consultation to inform development of the UKGT. Read the summary of public responses and government response for full details.
Our new tariff is tailored to the needs of the UK economy. It will support the economy by making it easier and cheaper for businesses to import goods from overseas. It is a simpler, easier to use and lower tariff regime than the EU’s Common External Tariff (EU CET) and will be in pounds (£), not euros. It will scrap red tape and other unnecessary barriers to trade, reduce cost pressures and increase choice for consumers and back UK industries to compete on the global stage.