Britain to cut Ukraine tariffs to zero to help its economy

LONDON (REUTERS) – All tariffs on items coming to Britain from Ukraine beneath an current free commerce deal shall be axed to help the Ukrainian economy, the British authorities introduced on Monday (April 25).

London stated tariffs can be lowered to zero and all quotas eliminated following a direct request from Ukraine’s President Volodymyr Zelensky, saying the transfer would supply a lift for Ukrainian companies concerned in key exports akin to barley, honey, tinned tomatoes and poultry.

“We stand unwaveringly with Ukraine in this ongoing fight and will work to ensure Ukraine survives and thrives as a free and sovereign nation,” stated British International Trade Secretary Anne-Marie Trevelyan.

Britain stated at the moment the typical tariff on Ukrainian imports was about 22%. It stated the deliberate change had been supplied on a non-reciprocal foundation, however Kyiv was seemingly to match the British motion.

Additionally, the British authorities stated it will additionally impose additional export bans on merchandise to Russia, together with money, maritime items and know-how, and energy-related items.

Last week, it ramped up sanctions on luxurious items together with caviar, silver and diamonds.

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