No-Deal Brexit Tariffs Are Revealed Hours Before MPs Rejected Theresa May’s Deal For The Second Time

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government has published details of the temporary tariff regime for no deal, designed to minimize costs to business and consumers while protecting vulnerable industries.

Nexter.org reports about the details you need to know.

New tariffs 

Ministers today revealed a series of alarming new tariffs that would be charged on products imported from the EU if there is a no deal Brexit – just hours before Theresa May gives MPs a vote on whether they want Britain to crash out of the bloc.

At the moment products from EU countries such as Germany and France can be imported into Britain without any charges under the single market, but if Britain leaves without a deal on March 29 the Government will have to introduce new import taxes.

It comes as MPs vote tonight at 7pm on whether to reject a no-deal Brexit after Theresa May’s Brexit deal was voted down for the second time last night.

brexit-no-deal-tariffs-photo

Source: AFP

 

The cost of importing some goods from the EU would rise, because the currently enjoys a tariff-free relationship with the bloc, but the cost of bringing in goods from most of the rest of the world would fall, as the exploited its freedom from Brussels to cut tariffs on certain products.

The new tariff regime would be applied temporarily in an attempt to minimise disruption to the economy and stop price hikes.

Currently, about 80% of imports to the arrive without tariffs. That would rise to 87%, as the Government slashes tariffs elsewhere.

On the Irish border, the British government said it would not introduce any new checks or controls on goods moving from the Irish Republic to the British province of Northern Ireland in the event of a no-deal Brexit, stressing the plan was temporary and unilateral.

brexit-no-deal-tariffs-photo

Source: Getty Images

 

Among the 13 % of imports – most from the EU – which will be subject to tariffs, will be:

  • Beef, lamb, pork and poultry and some dairy products including butter and cheese – in order to protect farmers and producers from cheap imports;
  • A number of tariffs on finished new cars, vans, lorries and buses imported from the EU – but charges will not apply to vehicle parts imported from the EU to prevent disruption to supply chains;
  • Ceramics, fertilizer and fuel, where tariffs protect producers against unfair practices like dumping and state subsidies;
  • Goods including bananas, raw cane sugar and certain kinds of fish, where tariffs are used to permit preferential access to the market for developing countries.

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No-Deal Brexit Tariffs Are Revealed Hours Before MPs Rejected Theresa May's Deal For The Second Time
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No-Deal Brexit Tariffs Are Revealed Hours Before MPs Rejected Theresa May's Deal For The Second Time
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UK government has published details of the temporary tariff regime for no deal, designed to minimize costs to business and consumers while protecting vulnerable industries. Nexter.org reports about the details you need to know.
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