Question to the Department for International Trade:

To ask the Secretary of State for International Trade, what estimate he has made of average price reduction on non-EU goods into the UK from setting a new UK tariff schedule on exit from the EU.

If the UK leaves the EU without a deal, the UK will implement the temporary tariff which will apply to all trade from partners not subject to alternative trade arrangements. This policy seeks to balance the impact on consumers from price rises and on producers from exposure to global competition. Under the temporary tariff, over 90% of imports by value currently entering the UK from outside the EU will be liberalised, rising from over 50%.

In addition to tariffs, prices for imported goods depend on various factors, including exchange rate fluctuations, shipping costs and on various non-tariff barriers. Given the range of issues affecting prices, the Government does not attempt to estimate goods prices.