UK government announces plan for £30 billion tariff cuts after Brexit

Market news

19 May 2020

UK government announces plan for £30 billion tariff cuts after Brexit

Global tariffs to replace EU common external tariffs starting from 1 January 2021
Tariffs to be maintained for agricultural products like beef, lamb, poultry
10% tariff on cars will also be maintained
Almost all pharmaceuticals, medical devices will be tariff free

Global downturn risks becoming prolonged recession, WEF says

UK unemployment rate unexpectedly fell for the three months to March 2020

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