Brexit: Only 39% of Portuguese exports will be exempt from duties

Published 2020년 7월 12일

Tridge summary

Starting January 1, 2021, Portuguese exports to the UK will face customs duties on 61% of goods, with 41% attracting duties exceeding 5% or specific duties. The list of exempt goods includes medicines, chemicals, and cork. In response, the UK will progressively reintroduce customs controls and procedures in three phases starting in January 2021, with all products subject to customs declarations and duties by July 2021. This situation arises due to the UK's departure from the EU, ending the principle of free movement of goods and potentially disrupting bilateral trade benefits worth 386 billion euros annually. Despite efforts to negotiate a future economic relationship, the lack of a free trade agreement by year-end threatens to revert to national and international rules for trade with the UK, marking a significant shift from the current frictionless trade within the EU.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Only 39% of national exports will be exempt from customs duties on entry into the British market, said Sara Santos, from the Directorate-General for Economic Activities, from the Ministry of Economy, referring to the new customs tariff, a, which will apply from 1 January 2021, if a free trade agreement between the European Union and the United Kingdom is not concluded in time. The list of Portuguese goods that are tax-free includes medicines, chemicals, wood and cork, plastics, paper and pulp, aluminum products, iron, steel and their works, as well as machines and devices. The remaining 61% of exports will be subject to customs duties. "41% of national exports will be subject to duties above 5% or specific duties." This is the case of canned tomatoes, canned sardines and tuna, wines, textiles and clothing, footwear, cigarettes, ceramic products, glass, as well as vehicles and components, detailed Sara Santos in a promotion promoted by IAPMEI and the Directorate-General for ...

Source: Agro Portugal