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No deal Brexit: UK exporters to face tariffs

In the event of a no-deal Brexit, the UK will impose tariffs on manufacturers and exporters. All import of yarn and fabrics will become duty free. The majority of exports will be subject to tariffs under World Trade Organization rules. The rates will be up to 12 months while a full consultation and review on a permanent approach to tariffs is undertaken. Out of around 1000 tariff lines for imports of textiles and fashion, 80 product codes will have a duty rate of up to 12 per cent. These products include men’s blazers, T-shirts, women’s underwear, baby garments, jeans and polo shirts. The rest will not have any tariffs. So the move is positive for importers of yarns and fabrics, but at the expense of UK manufacturers and exporters. An Italian woolen manufacturer will be able to sell into the UK at a zero per cent tariff. But UK manufacturers would face up to 12 per cent tariffs when exporting to the EU.

Product movements between the UK and Turkey will be affected. Turkey is a major supplier to the UK fashion industry and under this proposal many imports from Turkey would be 12 per cent more expensive.

 
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