The United Kingdom suspends tariffs on the import of 89 household products and expands trade finance facilities
The UK government has suspended third-country duty – also known as MFN tariffs on 89 products, expressing an ambition that the savings will be passed on to consumers. Whilst timing of the press release appears to coincide with the imposition of 10% US tariffs applied in addition to existing most favoured nation (MFN) rates on most UK exports to the United States, the suspended tariff announcements are the outcome of a 2024 consultation.
