New tariff regime post-Brexit pub-lished by the UK

The British government has published a list of new tariffs which will be applied from 1^st January 2021 if the negotiations do not lead to a trade agreement between the European Union and the United Kingdom

After several weeks of suspension due to the COVID-19 crisis, negotiations between the EU and the UK resumed last week. These negotiations relate to the technical aspects of the agreement ruling the future relationship after Brexit.

On May 19th, the British government has published, the new non-preferential tariff regime (UK Global Tariff UKGT) which will be applied from 1^st January 2021 in the event of no-deal at the end of the negotiations (hard Brexit). This MFN regime (Most-Favoured Nation) will replace the Common External Tariff of the EU (CET) for commercial transactions between the UK and EU member countries if no deal or other form of Free Trade Agreement (FTA) is approved by both parties during the transition period.

For more information, please visit the following links:

UKGT Toolkit
FPS Economy
Impact scan