The Government has announced that it has reduced the tariff on HGV imports as part of wider changes to the temporary tariff regime that would be introduced in the event of a no-deal Brexit.
The reduction will take the tariff on imported rigid trucks from 22% to 10%, in line with the tariff on most other motor vehicles. For tractor units, the tariff has been cut to 16%.
The Government’s draft no-deal tariff schedule is available online and lists the import duties that will be applied to around 13% of goods, including vehicles and tyres. Most of these tariffs are based on the World Trade Organisation’s Most Favoured Nation status, which applies the same trading terms to all nations unless a separate trade deal is in place.
In the event of a no-deal Brexit, the BVRLA has urged the Government to secure an early and permanent arrangement with the EU that reduces all tariffs on vehicles and parts to zero.