LONDON (Reuters) – Britain has launched plans to extend tariff cuts to hundreds of goods from developing countries, such as clothing and food, as part of London’s post-Brexit efforts to replace those run by the European Union. HUH).
In June, Prime Minister Boris Johnson said he wanted to launch a new trading system for 65 developing countries to cut costs and simplify rules.
Trade Minister Anne-Marie Trevelyan said the Developing Countries Trade Scheme (DCTS) would extend tariff cuts to hundreds of goods exported from developing countries, a system that goes beyond the EU’s programme.
“As a free trading nation, we are taking back control of our trade policy and making decisions that support UK businesses, help the cost of living and support the economies of developing countries around the world,” Trevelyan said in a statement.
“UK companies can expect less bureaucracy and lower costs by encouraging companies to import goods from developing countries.”
The DCTS covers 65 countries, simplifies rules such as rules of origin, which dictate the proportion of a product that must be produced in its home country, and eliminates certain seasonal tariffs.
(Reporting by Elizabeth Piper)
