CBI responds to the UK Governments new Global Tariff regime

Josh Hardie, CBI Deputy Director General, said:

“The new tariff scheme will provide businesses with much needed clarity on post-Brexit trade. Simplifying the system, scrapping tariffs under 2%, reducing duties on sustainable products are all things firms can work with. Sticking closely to many existing tariff levels will give other countries incentive to agree trade deals with the UK.

“However, businesses will need time to assess the detail and ensuring there’s a system in place to address issues as they arise will be critical. Crucially, firms no. 1 priority is for the government to strike a deal with the EU and ensuring continuity of existing trade deals.”