UK Opening Public Consultation Process on New Tariff Policy After Brexit

The United Kingdom’s Department for International Trade launched a public consultation to inform the U.K.’s new independent “global tariff policy” after Brexit, the DIT said in a Feb. 6 notice. The U.K. said it is developing a new Most Favored Nation tariff schedule to take effect Jan. 2, 2021, to ensure U.K. companies “compete on fair terms with the rest of the world.” The consultation will open online for four weeks until March 5, the U.K. said, adding that it is seeking views on “simplifying and tailoring” tariffs to benefit UK companies, removing tariffs on “key inputs to production” to reduce costs for manufacturers, and removing tariffs where the U.K. has “zero or limited domestic production.”