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profishingrods.com March 19, 2019


No deal Brexit will bring 0% temporary tariffs on bicycle goods

14 March 2019, 10:58 | Devin Moran

Honda cars lined up at Southampton Docks prior to being loaded onto a car container ship for export

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The British government will today publish its plans for a no-deal Brexit following another defeat for Prime Minister Theresa May's withdrawal agreement in the House of Commons last night.

But Britain would slash tariffs elsewhere on the vast majority of goods entering the country.

The government said the measures would be "strictly temporary" and that its priority would be to enter into discussions urgently with the European Commission and the Irish government to jointly agree long-term measures to avoid a hard border.

The British government has announced plans to scrap import tariffs temporarily on a wide range of goods in the event of a no-deal Brexit, to limit the economic damage.

This latest announcement stated that around 87% (by value) of imported goods would see a zero tariff in a "no deal" Brexit (around 80% of imported goods (by value) are now tariff-free, according to the BBC).

Tariffs would be payable on goods imported from the European Union via Northern Ireland into the rest of the UK.

He argued that businesses may not comply with new legal obligations in a no-deal scenario "leading to the likelihood of a step change in the scale and significance of smuggling and organised crime".




Rates include beef (53 per cent of MFN), poultry meat (60 per cent), sheep meat (100 per cent), pig meat (13 per cent), butter (32 per cent), Cheddar-like cheese (13 per cent), protected fish and seafood products (100 per cent) and milled and semi-milled products (83 per cent).

However, it is not clear to what extent RoI companies will be able to continue trading for free with Great Britain just so long as they route their goods through NI ports.

Proposed tariff rates on a range of food products were announced as a proportion of the so-called "most favoured nation" (MFN) now imposed by the European Union on imports from countries which do not have a free trade agreement.

To fulfil essential worldwide obligations, there would be new United Kingdom import requirements such as checks on documents or registration for a very limited set of goods, such as endangered species and hazardous chemicals.

Cutting import tariffs on imported goods would ease the hit to British consumers from an expected jump in inflation in the event of a no-deal Brexit which would probably cause sterling to tumble and make imports more expensive.

Coveney said that the move could inflict €800m (£696m) in damage to Ireland's agriculture sector, since it would be forced to compete with goods from countries like Brazil.

Meanwhile, the Ulster Farmer's Union suggested that the plans announced on Wednesday would be equally damaging for Northern Irish farmers. These arrangements can only be temporary and short-term.



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