The UK government has announced that most imports into the UK would not attract a tariff in the event of a no-deal Brexit.
Under a temporary scheme 87% of imports by value would be eligible for zero-tariff access.
At the moment 80% of imports are tariff free including hoist and winches machinery.
Trade Policy Minister George Hollingbery said: “Our priority is securing a deal with the EU as this will avoid disruption to our global trading relationships. However we must prepare for all eventualities.”
He said the government’s plan “represents a modest liberalisation of tariffs”.
“This balanced approach will help to support British jobs and avoid potential price spikes that would hit the poorest households the hardest,” he said.
From the Tariff Reference Document:
Machinery and machinery parts under the category 8425 “Pulley tackle and hoists other than skip hoists; winches and capstans; jacks” will be tariff-free (0%) under a no-deal scenario. Exports to other countries, including the EU, may be subject to their respective WTO import tariffs.
[BBC – original article]
[UK Gov/Tariff News Story – original article]
[UK Gov- Tariff Reference Document]
[WTO – Tariff Check]
[Pictures – UK Gov/Tariff Reference Document]