Trade USA: Critical Update for UK Importers on Potential Additional Tariffs

UK Compliance Manager Adam Grimshaw urgently informs UK importers about the looming threat of additional tariffs on goods of US origin currently stored in UK bonded warehouses. In light of inbound requests from bonded clients regarding potential retaliatory rates, it is crucial for importers to stay informed and proactive.

Consultation Process Launched

The UK Government has initiated a consultation process to gather input from UK importers and exporters. This move comes in response to the USA’s recent trade policy changes and the imposition of additional tariffs. The consultation aims to understand the potential impacts and gather business views on possible retaliatory measures. HMRC has requested traders to provide feedback on which commodities should receive retaliatory rates, with the consultation period ending on May 1.

Government Press Release

The official government press release and details on how to submit your response can be found at the following link: UK seeks business views on response to US tariffs – GOV.UK.

Potential Future Tariffs

It is important to note that if the UK Government decides to introduce additional tariffs on imports from the USA, these tariffs would also apply to goods currently stored within UK bonded warehouses. This means that any goods of US origin held in bonded warehouses could be subject to these new tariffs upon their release into free circulation.

We strongly advise all importers to stay informed about these developments and participate in the consultation process to ensure your views are considered. Your input is crucial in shaping the UK’s response to these trade challenges.

For further information and to submit your response, please visit the GOV.UK consultation page.