The UK publishes its post-Brexit tariffs plan
- Global tariffs to replace EU common external tariffs starting from 1 January 2021
- Tariffs to be maintained for agricultural products like beef, lamb, poultry
- 10% tariff on cars will also be maintained
- Almost all pharmaceuticals, medical devices will be tariff free
I think the more important thing to note is that the UK highlights that 60% of its trade will come in tariff-free under the 'global tariff' regime as compared to 47% currently.
In any case, trade talks with the EU are still going nowhere and therein still lies a key risk factor to consider when trading the pound in the coming weeks.
