The Government has this morning (19 May) announced the UK’s new MFN tariff regime, the UK Global Tariff. 

This will replace the EU’s Common External Tariff on 1 January 2021 at the end of the Transition Period. 

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.

The Government is taking a common-sense approach to our new tariff schedule by streamlining and simplifying nearly 6,000 tariff lines, and lowering costs for businesses by reducing administrative burdens. The changes include scrapping unnecessary tariff variations, rounding tariffs down to standardised percentages, and getting rid of all “nuisance tariffs” (those below 2%). 

For the first time in 50 years we are able to set our own tariff regime that is tailored to the UK economy.  

We are also getting rid of the EU’s complex Meursing table, allowing us to scrap thousands of unnecessary tariff variations on products – including over 13,000 tariff variations on products like biscuits, waffles, pizzas, quiches, confectionery, and spreads. The UKGT also expands tariff free trade by eliminating tariffs on a wide range of products.

The Government is maintaining tariffs on a number of products backing UK industries such as agriculture, automotive and fishing. This will help to support businesses in every region and nation of the UK to thrive.