Friday, December 2, 2022
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The UK to Reduce Import Taxes on Goods from the World’s Poorest Countries

The United Kingdom plans to cut import taxes on hundreds of products from some of the poorest countries in the world to boost trade links. The Developing Countries Trading Scheme comes into action in January 2022, and goods such as shoes, clothes, and foods, which are not widely produced in the United Kingdom, will benefit from low or zero tariffs.

This scheme of the United Kingdom covers 65 developing countries. This scheme is applied thousands of products, which the developing countries export to the United Kingdom without any tariffs, and it will affect around 99 percent of the goods imported from Africa.

The Department for International Trade said this scheme was part of a wider push by the United Kingdom to use trade to help eradicate poverty and drive prosperity while decreasing dependency on aid.

The scheme includes the power to suspend a country on the grounds of labour violations and human rights violations, and also on not meeting the obligations for climate change.

International Trade Secretary, Anne-Marie Trevelyan, said by being an independent trading country, they are taking back control of their policy, and making decisions that are backing UK businesses, supporting the economies of developing nations, and helping with the cost of living.