The UK’s exit from the European Union makes imports more expensive

British tariffs on imports have risen dramatically since the United Kingdom left the European Union. This is the conclusion of the first analysis.

The basics in brief

  • British tariffs on imports from the European Union have become more expensive since Brexit.
  • 42 percent increase compared to the same period last year.

Since the UK left the EU, English businesses and consumers have had to pay more for imports from the EU. This puts additional pressure on the British economy.

The UK’s exit from the European Union has consequences

The increase is about 42 percent compared to the same period last year. These numbers come from an analysis of government data released Monday by accounting firm UHY Hacker Young.

Higher costs put additional pressure on the UK economy, which is already in crisis. In view of the significantly higher bureaucracy, importing has also become more complex and time-consuming. British companies have not received enough time or assistance.” That’s what expert Michelle Dale told UHY.

The main reason for customs duties is the base of origin

The main reason for higher tariffs is the so-called rules of origin. This means that tariffs are due on goods from the European Union that were originally manufactured outside the group.

According to the analysis, other problems threaten trade with the European Union from October onwards. This is because a new import ban on various foods such as refrigerated ground meat will come into effect. The auditors warned that the result could be long lines at the border.

More on this topic:

Food piracy trade Brexit

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