Up to £3.5bn of British exports to the EU have paid tariffs they did not have to since the beginning of 2021, according to new research.
Analysis of EU statistics by the University of Sussex’s Trade Policy Observatory found that about 10% of British exports to the EU paid tariffs unnecessarily. Although the EU-UK Trade and Cooperation Agreement was designaterd as a ‘no quotas and no tariffs’ deal, exporters do not automatically benefit from zero tariffs.
No tariffs apply for goods moving from GB to the EU and vice versa, but only if the TCA’s Rules of Origin requirements are met.
The importer is required to declare that they hold proof of origin, and traders need to know how to classify their goods when checking the product specific rules.