Reforming trade preferences for developing nations

On July 19th, the Department for International Trade launched a public consultation, inviting views on proposed changes to the trade preference scheme which reduces or removes import tariffs for 70 developing countries. In particular the consultation sought views on the following aspects:

“We want to know what you think about proposed changes to the UK’s trade preference scheme. This is currently known as the UK Generalised Scheme of Preferences (GSP).

In particular, we want to hear your views on:

  • rules of origin requirements for least developed countries (LDCs)
  • reducing tariffs for low income and lower-middle income countries
  • the approach to goods graduation, which suspends reduced rates on some goods
  • the conditions and reporting requirements for low or lower-middle income countries

The new UK preferences scheme (the Developing Countries Trading Scheme) will take effect in 2022.”

This document represents a large part of IFT’s response to this consultation, and was written by IFT Fellow, Brian Sturgess.

Reforming trade preferences for developing nations