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U.K. to Use High Tariff Threat to Accelerate Trade Talks: Times

U.K. to Use High Tariff Threat to Accelerate Trade Talks: Times

Eduard Gismatullin

(Bloomberg) --

U.K. Prime Minister Boris Johnson plans to use high tariffs as “leverage” to accelerate trade talks with the European Union, U.S. and other nations, the Times of London reported.

The tariffs could result in taxes of 30% on some French cheeses and 10% tax on German cars, the newspaper said.

Britain currently has trade deals with a number of countries through its membership of the EU, and any future trading relationship will need to be renegotiated before the transition period ends.

U.K. ministers discussed the plan at their EU exit strategy meeting on Thursday, the report said.

©2020 Bloomberg L.P.

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