Government seeks businessesâ€™ views on duty-suspension regime for imports boosting UK manufacturing
Friday, February 5, 2021
The UK Department for International Trade (DIT) wants to hear from the business community about how it should run its new application system for tariff suspensions on goods entering the UK. Tariff suspensions are used by governments to support domestic manufacturing by reducing production costs. An example of a product for which tariff suspensions could apply in the UK is sugar cane imports. When the UK was a member of the EU, the plant attracted duties worth â‚¬33.90 for every 100kg. The UK, having left the EU, can now set its own tariffs and quotas for the sugar cane â€“ and it has. From the beginning of January, 260,000 tons of raw sugar cane can enter the UK in 2021 tariff-free. Imports after this will attract duties of Â£28 per 100kg, according to the DIT.Click here to connect to the source of this storyClick here for more News and Views
As I browse the web researching various topics concerning the EU and UK sugar markets, I've been bookmarking interesting weblinks. Some of these are news clippings, some are links to official documents, and some are interesting data sources.