News archive

Tag: Brexit

UK global tariff for wood and wood products released

UK global tariff, wood, wood products, Brexit

From 1 January 2021, the UK will apply a UK-specific tariff to imported goods. The UK Global Tariff (UKGT) will replace the EU’s Common External Tariff, which applies until 31 December 2020, reported TTJ. The duty rates will become applicable to customs entries made on or from 1 January 2021 when the UK formally exits the EU. The changes …

Recovery in EU wood imports continues in 2019

EU imports, 2019, review, recovery, Brexit, coronavirus

The total value of EU imports of wood products was 20.51 billion euro in 2019, a 4% increase as compared to 2018. In 2019, EU import value also hit the highest level since 2008 just before the global financial crises (Chart 1), reports ITTO. The rise in imports into the EU occurred despite unfavourable exchange rates and weakening economic …

ITTO: Brexit could weaken EU imports of tropical wood in the short term

ITTO, brexit, EU, imports

Tropical wood imports could slow down after the UK leaves the European Union, according to the International Tropical Timber Organization (ITTO). Currently, the UK is the largest importer of tropical timber in the EU. The UK market accounted for around 25% of the total value of tropical wood imported into the EU last year. This includes primary …