BRITS could enjoy cheaper coffee, trainers and wine as ministers plan to cut import tariffs from next year.
International Trade Secretary Liz Truss today launched a consultation on the duty charges, and revealed plans to slash prices across the country.
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British businesses would then be boosted by the prices once Britain is finally out on January 1 2021.
Higher tariffs on some goods would be cut completely because Brits don’t make them, making it cheaper for UK consumers.
This could see a 7.5 per cent tariff scrapped on coffee, 16.9 per cent off trainers, or 32 euro cents per litre off wine.
Other savings could include 42 euro cents per kg off Sugar, as well as slashing the 12.8 per cent tariff on limes.
Plans also being considered include wiping away all tariffs of 2.5 per cent or less, as well as rounding down to the nearest 2.5 per cent, 5 per cent or 10 per cent band.
This could see cheaper household fridges, electric shavers and fuses.
It may also apply to goods such as Sultanas, Pistachios and bicycle hand pumps.
Ms Truss said: “The UK has left the EU and it is time for us to look forward to our future as an independent, global champion of free trade.
“It is vitally important that we now move away from complex tariff schedule imposed on us by the European Union.
“High tariffs impinge on businesses and raise costs for consumers. This is our opportunity to set our own tariff strategy that is right for UK consumers and businesses across our country.”
Goods coming into the UK have been subject to the EU’s Common External Tariff for nearly 50 years.
Deputy Director- General at CBI, Josh Hardie added: “Business welcomes the launch of this consultation as an essential step to making the UK’s trade policy a success.”
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