Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what the graduation thresholds will be under the UK general framework compared with the EU generalised scheme of preferences.
The United Kingdom’s Generalised Scheme of Preferences (GSP) will replicate the EU’s approach to graduating products that are internationally competitive. On 31st December 2020, when our GSP takes effect, it will replicate the EU’s current list of graduated goods. Thereafter, trade preferences will be suspended from countries in the General Framework for goods where the import ratio for those goods, over a three-year import review period, exceed the following thresholds:
Plants, oils and metals: 17.5%
Textiles and apparel: 47.2%
All other goods: 57%.
The list of graduated goods will be reviewed every three years and the outcome published in a notice.