May 20th, from WikiFX news. Britain announced an important plan to
cut tariffs by 30 billion pounds after Brexit, while also releasing the
latest most-favored-nation rate of duty.To get more news about WikiFX, you can visit wikifx official website.
The British Global Tariff that will replace EUs common external
tariffs from January 1st, 2021 centers around the following points:
1.The new British tariff ensures that from January, 2021, 60% of
foreign trade will enter the country on WTO terms or through existing
preferential access.
2.Britain will promote sustainable economy by cutting tariffs on over
100 different products to support renewable energy, energy efficiency,
carbon capture and storage and circular economy. Import tariffs on
agricultural produce such as beef and mutton and most of ceramic
products will remain unchanged, and a 10% tariff will be applied to
automotive.
3.The new tariff plan will be set in pounds and is less complicated than the EU tariffs
