The UK Government is currently undergoing preparatory actions that will be the basis of the negotiation of the future relationships between the UK and the rest of the world, including the EU, and the future Free Trade Agreements that will be negotiated.
In this context, the Department for International Trade (DIT) has launched a 4-week consultation on the UK Global Tariff, the schedule that will outline the tariffs imposed on all imports into the UK from 1 January 2021 onwards and will replace the EU’s Common External Tariff. The consultation offers respondents the opportunity to provide:
- views on changes to the Common External Tariff to create a bespoke UK tariff regime;
- specific feedback on individual products or commodity codes of importance to them, including on the corresponding tariff rate; and
- information on their interactions with Most Favoured Nation (MFN) tariffs and the importance of tariffs to their sectors.
The Government is seeking views on the following potential changes:
- simplifying and tailoring the tariff to suit UK businesses and households, such as removing tariffs of less than 2.5% and rounding tariffs down to the nearest 2.5%, 5% or 10% band;
- removing tariffs on key inputs to production which could reduce costs for UK manufacturers; and
- removing tariffs where the UK has zero or limited domestic production which could help to lower prices for consumers.
More detailed information can be found here and the public consultation can be accessed via this link. The consultation will close on 5 March 2020 and an announcement on the UK’s new Global Tariff schedule will follow shortly afterwards.
CTPA will be liaising with members and DIT in a series of activities in order to contribute to the consultation and ensure a fair representation of the cosmetics industry. CTPA also encourages individual companies to participate to the public consultation.