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Bloomberg
UK Prime Minister Boris Johnson plans to use high tariffs as “leverage†to accelerate trade talks with the European Union, US and other nations, The Times of London reported.
The tariffs could result in taxes of 30% on some French cheeses and 10% tax on German cars, the newspaper said.
Britain currently has trade deals with a number of countries through its membership of the EU, and any future trading relationship will need to be renegotiated before the transition period ends.
UK ministers discussed the plan at their EU exit strategy meeting, the report said.
With five trading days until Britain exits the European Union, investors are showing faith in UK assets. The month since the Conservatives’ election victory has seen $1.9 billion pour into UK equity mutual funds, according to EPFR Global data, while government bonds are the best performers in the region. Market sentiment has improved amid expectations Prime Minister Boris Johnson’s new parliamentary majority will unleash a wave of government and private spending to revive growth.