Commons Sense

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Trade Update

15 March 2022

Proposing MP
Anne-Marie Trevelyan Con
Berwick-upon-Tweed
Type
Written Ministerial Statement
Department
Department for International Trade
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At a Glance

Issue Summary

The UK government is taking action against Russia and Belarus by denying them Most Favoured Nation tariff access and imposing additional tariffs on specific goods.

Action Requested

The government will increase tariffs on £900 million worth of Russian and Belarusian imports to 35%, ban exports of luxury goods to Russia, and ensure these measures are in line with the sanctions imposed by G7 allies. Secondary legislation will be laid before Parliament under the Taxation (Cross-border Trade) Act 2018.

Key Facts

  • The tariff increase affects £900 million worth of imported goods from Russia and Belarus.
  • Tariffs on these goods are increasing from 0% to 35%.
  • Luxury goods exports to Russia will be banned.
  • The export ban targets luxury vehicles, high-end fashion, and works of art.
  • Secondary legislation will be laid before Parliament under the Taxation (Cross-border Trade) Act 2018.
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