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New UK tariff system: LED lights will be exempted from customs duties
author:tom2020 Release time:2020-05-25 13:49:26 Read:9
OnMay19thlocaltime,theUKannouncedanewtariffmechanismaftertheendofthetransitionperiodof"Brexit"toreplacetheEU'sexternaltariffsystemthathadbeenimplemented.Thenewtariffsystemwillbeimplement

On May 19th local time, the UK announced a new tariff mechanism after the end of the transition period of "Brexit" to replace the EU's external tariff system that had been implemented. The new tariff system will be implemented from January 1, 2021. 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, and will reduce tariffs on many types of imported goods worth a total of tens of billions of dollars.


Among them, import products that are conducive to improving energy efficiency, such as LED lights, will be exempted from customs duties。 This will be good news for LED products exported to the UK。


According to a statement from the British government, the newly promulgated "UK Global Tariff (UKGT)" (UK Global Tariff-UKGT) will be "simple and cheap" compared to the EU's common external tariff system. For companies exporting to the UK, this will eliminate complicated procedures and other unnecessary trade barriers, reduce cost pressures, and increase consumer choice.


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