Today, the government published the UK's global tariff regime, which sets out tariffs that will apply to imports from 1st January 2021.
The tariffs for food and agricultural products largely mirror those applied by the European Union, although there are reductions in a few areas. For wheat, flour and bakery goods, the implication is that failure to reach agreement with the EU would mean significant tariffs apply to trade in either direction.
This highlights the disruptive and potentially costly impact for all businesses in our sector of failing to reach a deal by the end of this year.
