Sir Keir Starmer is suspending import tariffs1 on dozens of goods to shore up British companies caught in Donald Trump’s trade war.
Duty on 89 products from electric car batteries to fruit juice will be cut to zero for two years in a major state intervention2 to ease pressure on firms.
The Government claims the drive will save businesses £17 million per year, savings3 it says could ultimately be passed on to consumers.
But there is no guarantee firms will pass the savings on and the reduction in UK duties will mean millions in lost Treasury4 takings, ultimately coming at a cost to the taxpayer5.
1
tariffs [ˈtærifs]
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关税制度; 关税( tariff的名词复数 ); 关税表; (旅馆或饭店等的)收费表; 量刑标准 | |
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2
intervention [ˌɪntə'venʃn]
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n.介入,干涉,干预 | |
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3
savings ['seɪvɪŋz]
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n.存款,储蓄 | |
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