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Murk Surrounding No-Deal Brexit Tariffs Confounds Business

Posted March 08, 2019

Under Economic Issues, International Trade Issues

(Joe Mayes & Irene García Pérez – Bloomberg)

Confusion around which goods will be subjected to U.K. import tariffs in a no-deal Brexit is exasperating companies as they seek to finalize preparations for the split.

The government will reveal details of the plan only if Prime Minister Theresa May’s deal to quit the European Union is rejected by Parliament next week, an official said Tuesday, without providing a timescale for publication.

The Freight Transport Association, which represents U.K. cargo firms and truckers who could face long lines at ports if a no-deal split triggers customs duties, said clients need clarity on tariffs now in order to evaluate the costs and consequences for their goods after the Brexit deadline on March 29.

“It is unfair and unreasonable for the government to claim it is business’s responsibility to prepare for a no-deal Brexit when ministers are unable to provide essential information for importers and exporters,” FTA Deputy Chief Executive Officer James Hookham said in an emailed statement. Click here to read more.