Back in early February, the Department for International Trade announced that it was seeking the views of stakeholders on what sort of tariffs the UK should apply on its imports of goods. As an EU member, the UK applied the same tariffs as the rest of the EU, but as from next year it can do what it likes tariff-wise. So is this a chance for ‘Global Britain’ to tear away the protectionist trappings of the EU and embrace the free market at last? Or might Britain’s manufacturing and agricultural industries want to retain some tariff protection against cheaper imports from overseas? And how do UK import tariffs actually affect businesses, consumers and the UK economy?
The podcast is produced by the UK Trade Policy Observatory with the media support of Borderlex.