UK to Continue Trade Scheme for Developing Countries After Brexit
The United Kingdom’s trade preference scheme for developing countries will continue after it leaves the European Union Jan. 1, 2021, the U.K.’s Department for International Trade said Nov. 10. The Generalised Scheme of Preferences, which provides preferential tariffs for developing…
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countries, will cover any “eligible” countries that do not have their existing trade deals with the U.K. transitioned into a new agreement after Brexit, the agency said. U.K. Trade Secretary Liz Truss said the country is “making sure that the world’s poorest countries can continue to take advantage of the opportunities that free trade offers them by allowing them to export their products to the UK at preferential rates.”