No-deal Brexit tariffs revealed
March 14, 2019 -- The UK will eliminate import tariffs on a wide range of goods and keep the border between Ireland and Northern Ireland free of customs checks if it leaves the European Union with a no-deal Brexit.
The emergency tariff regime would apply for up to 12 months, according to a government briefing. The European Commission responded, saying it will not reciprocate. The EU will apply standard World Trade Organisation tariffs on trade with Britain.
“We take note of the UK plans for temporary tariffs in the case of no deal,” Commission spokesman Margaritis Schinas told a news briefing.
“We will carefully analyse the compliance of the UK plan with WTO law and the EU’s rights thereunder. The differential treatment of trade on the island of Ireland and other trade between the EU and the UK raises concerns,” he said.
“In the event of no deal, the Union has already made clear it will apply its normal third country trade regime to all trade with the UK,” Schinas said.
The EU, taken as a whole is the UK’s largest trading partner. In 2017, UK exports to the EU were £274 billion (€320.7bn, 44% of all UK exports). UK imports from the EU were £341 billion (€399.1bn, 53% of all UK imports).