The British government has announced its new MFN tariff regime, the UK Global Tariff (UKGT) which will replace the EU’s Common External Tariff on 1 January 2021 at the end of the Transition Period. The new measure means, among many other things, that the UK maintains a 10% tariffs on cars, vans, lorries.
„For the first time in 50 years we are able to set our own tariff regime that is tailored to the UK economy” – International Trade Secretary Liz Truss said. – „With this straightforward approach, we are backing the UK industry and helping businesses overcome the unprecedented economic challenges posed by Coronavirus.
The Road Haulage Association has warned that a ten percent tariff on new trucks will stall the economic recovery. RHA chief executive, Richard Burnett said that the levies will make it harder for firms to invest in new, cleaner vehicles to move the goods that will drive economic recovery.
“The Government says it’s confident of securing a free trade agreement with the EU but if it fails to do so this truck tariff will be a crippling blow for hauliers – putting £10k on the price of a new lorry” – he added. “At a time when they are struggling with coronavirus, clean air zones and Direct Vision Standard during a likely recession this is another very unwelcome cost for our industry.”