On 19 May 2020, the UK revealed its new tariff regime, the UK Global Tariff (“UKGT”). Together with the announcement of the UKGT, the UK declared that it is seeking to facilitate imports of goods not competing with British producers. Consequently, it will remove a significant number of tariffs. Indeed, the UKGT is set to remove about £15 billion in “needless” tariffs of below 2% and £10 billion in tariffs on goods that are not produced in the UK. More