China News Service, May 20, according to Reuters reports, on the 19th local time, the United Kingdom announced the new tariff mechanism after the end of the "Brexit" transition period to replace the EU's external tariff system that had been implemented. The new tariff system will be implemented from January 1, 2021, reducing or eliminating various tariffs, but maintaining a 10% tariff on automobiles.
Data Map: On March 23, 2019, a large-scale demonstration called for the "Second Brexit Referendum" was held in central London, England. The picture shows an old man with a European Union flag applauding the speaker. China News Service reporter Zhang Pingshe
The British government said that the new tax system is called "UK Global Tariff" (UKGT), and the content will be simpler and lower than the EU common external tariff. For countries that have not signed a trade agreement with the UK, all tariffs below 2% will be eliminated.
Under the new system, 60% of British trade will enjoy tariff-free treatment in accordance with the terms of the World Trade Organization (WTO) or through existing preferences.
The UK will also maintain tariffs on a range of products to support the UK ’s agriculture, automotive and fisheries industries, and maintain tariffs on cars unchanged at 10%.
In addition, according to a statement issued by the British Ministry of International Trade that day, in order to combat the new crown epidemic, the UK has adopted a "temporary zero tariff" approach, exempting some personal protective articles and medical equipment from non-EU countries and regions from tariffs.
At present, the United Kingdom is in post-Brexit trade negotiations with the European Union, and trade negotiations between Britain and the United States have also begun. The UK also hopes to reach agreements with major trading partners such as Japan and Turkey.