UK to heavily tax German, French imports after hard Brexit
The British government has announced a series of tariffs to be imposed on products coming from the European Union countries which will go into effect if London withdraws from the bloc with no deal at the end of March.
The government measures announced on Wednesday showed that large charges will be imposed on imports of foods from France and cars from Germany.
They include at least 6.8 percent tariffs on import of beef, lamb, pork and poultry and dairy products, which are mostly imported from France and a 10.6 per cent tariff on imports of cars mostly from Germany.
The tariffs are meant to offset the impacts of a no-deal Brexit and satisfy the international regulations under the World Trade Organization (WTO).
The British car industry and farmers are expected to be hit hard with a no-deal Brexit if the government does not enact taxes on foreign imports. Such tariffs will also apply to the same products coming from other parts of the world as required by the WTO rules. However, the pressure is expected to be felt more in countries like France and Germany as they have relied on duty-free export of their signature products to the UK under EU mechanisms for decades.
According to the new measures, more than 85 percent of EU products will continue to come to the UK on a tariff-free basis while the taxes will not be applied to EU import coming through the Irish border due to security concerns.
Experts said the announcement of new taxes is aimed at pressuring the EU to bow to the pressures for changing terms of a controversial Brexit deal which has failed to go through the British parliament on two occasions.
Both the EU and Britain are hopeful they could avoid a no-deal Brexit on March 29, a scenario which many believe would have huge economic impacts for the two sides.
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