UK’S import costs below rivals’ levels

The UK benefits from lower imp or t costs than a host of riva le co nomies, with businesses and consumers paying just 0.5 per cent in duties on their $825 billion (£629bn) in imports in 2017/18, according to a study by UHY, the accounting and consultancy network.

The UK’S level of import duties is far lower than those of economies such as the US and China.