Tariffs Update
Over the weekend, the United States Government announced the suspension of enhanced reciprocal tariff rates on a number of goods originating from China, including key items such as semiconductors and smartphones. Updated guidance has now been published by the US Customs and Border Protection, which can be accessed here.
Support for Businesses
We encourage you to refer relevant businesses to the following support initiatives:
Export Academy Webinar – 28 April
• This upcoming session will cover common queries, including the impact of rules of origin on tariffs. Further details and registration can be found here: Events – US Tariffs: Practical impacts and explanations.
Government-Backed Finance
• New support measures have also been announced via UK Export Finance and the British Business Bank to assist British exporters. You can find more information here: Government steps in to back British business in changing world - GOV.UK.
Additional Resources
For enquiries about tariffs on imports, you may find the following tools and updates useful:
UK Global Tariff Tool
• For queries regarding import duties and VAT rates into the UK, businesses can be directed to the UK Global Tariff tool. This resource allows users to look up commodity codes, applicable tariffs, and VAT rates for goods imported into the UK. It can be accessed here: Trade Tariff: look up commodity codes, duty and VAT rates - GOV.UK
Suspension of Certain UK Import Tariffs
• In addition, over the weekend the UK Government announced a suspension of tariffs on a range of imported goods. This move is intended to help reduce the cost of everyday items and seasonal products, providing some relief for consumers and businesses alike. Further details are available here: Government cuts price of everyday items and summer essentials - GOV.UK.