In February 2020, the Department for International Trade launched a 4-week consultation on the future of UK Global Tariffs. This is IFT's submission.
In January 2021, the UK government’s new Most Favoured Nation (MFN) tariff rates will enter into force. This is a critical opportunity for the UK to demonstrate its commitment to free trade by unilaterally liberalising tariffs across the board. This paper summarises the economic case for this approach, and tackles the common objections.