The Government has now published the new UK Global Tariff (UKGT). The UKGT will replace the EU’s Common External Tariff on 1 January, 2021.
This tariff will only apply to goods from countries which the UK does not have a preferential trading relationship with.
In response to the news, Peter Davidson, Executive Director of the Tank Storage Association, said: “This bespoke regime will apply from 1 January 2021 and replace the EU’s common external tariff. The UK’s bulk liquid storage sector supports growth and prosperity by importing, exporting, storing and blending liquid products that are integral to our daily lives, from transport and heating fuels to chemicals, agricultural and food-grade products.”
He added: “It is good to see the Government listen to sectors, such as ours, that play a significant and leading role in international trade. Looking ahead, we will continue working closely and constructively with the government on behalf of our sector to ensure that we can continue to deliver and thrive.”
For more information visit www.tankstorage.org.uk