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The UK Government Has Announced a New Post-Brexit Tariff Regime That Will Replace the European Union’s External Tariff from 1 January 2021

This was reported by "European Truth" with reference to the official statement of the British government.

The British government has said the new regime, called the UK's Global Tariff (UKGT), will be simpler and lower than the EU Common External Tariff (EU CET). It will be in pounds sterling, not euros.

"It will remove bureaucracy and other unnecessary barriers to trade, reduce price pressures, expand consumer choice and support British industry in competition on the world stage," the government said in a statement.

Under the new regime, tariffs are removed from a wide range of goods. 60% of goods will enter the UK free of charge under the WTO or through existing preferential access from January 2021. "Successful FTA negotiations will increase this figure," the government said.

At the same time, Britain will maintain tariffs on a number of products to support sectors of its economy such as agriculture, automotive and fisheries.

"This will help support business in every region and help every nation in the UK to prosper. Some tariffs will also be maintained to support imports from the world's poorest countries," he said.

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