UKFT statement on UK import tariffs
The UK Government has announced the import tariffs that will apply under a ‘no deal’ Brexit today.
Around 80 fashion tariff lines will attract import duties under a ‘no deal’ scenario. However all yarns and fabrics would come in duty free.
The regime is said to be temporary, and the government is intending to closely monitor the effects on the UK economy. The rates would apply for up to 12 months while a full consultation and review on a permanent approach to tariffs is undertaken.
“This is a very significant change and if we do leave without a deal, leaves businesses with very little time to prepare,” said Adam Mansell, CEO of UKFT. “There will be product on the water now that will be affected by these potential changes.
“It is also a very mixed bag for the fashion and textile sector. We welcome the Government’s commitment to help developing countries through the continuation of the GSP scheme but the reality of a no deal Brexit, at least in the short term, is that for example Italian wool fabric can enter the UK duty free, while our woollen and worsted manufacturers would face an 8% duty rate selling in to Italy.
“We are also very concerned that the Government has completely failed to replicate the deal the EU currently has with Turkey. Turkey is a major supplier to the UK fashion industry and under this proposal many imports from Turkey would be 12% more expensive overnight.”
In the event of a ‘no deal’ Brexit, exports to the EU will attract tariffs of between 6 and 12%.
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