| answer text |
<p>The temporary tariff regime has been designed with the aim of minimising disruption
across the UK. The Government believes the policy strikes the right balance between
avoiding high adjustment costs and protecting businesses from unfair trade in some
sectors, and liberalising tariffs to maintain current supply chains and to avoid an
increase in consumer prices.</p><p> </p><p>The impacts on businesses in the West Midlands
stemming from this policy will depend on firms’ reliance on imports from the EU and
the extent to which they are already exposed to competition from the rest of the world.
For some businesses, there will be potential benefits in terms of not having tariffs
imposed on imports from the EU (as is currently the case), particularly where businesses
rely on EU goods as inputs or as final goods for sale. However, for other businesses,
lowering the UK’s tariffs could expose them to greater levels of competition from
the rest of the world, which may create adjustment costs for these firms.</p><p> </p><p>This
is a temporary policy that will apply for up to 12 months in the event of no deal.
During this temporary period, a full review, including a public consultation, would
be undertaken in order to develop a permanent tariff regime.</p>
|
|
