March 6, 2019 / 11:18 AM / 15 days ago

UK's Fox: 'number of ways' to mitigate tariff impact on vulnerable sectors

FILE PHOTO: Britain's Secretary of State for International Trade Liam Fox is seen outside of Downing Street in London, Britain, February 26, 2019. REUTERS/Peter Nicholls

LONDON (Reuters) - British trade minister Liam Fox said on Wednesday there were a number of ways in which the government could try to mitigate the impact of low tariffs post-Brexit on vulnerable sectors.

Media have reported the government is planning to slash tariffs on most goods if Britain leaves the European Union without a deal, a decision which would leave some British factories and farms struggling to compete with imports.

Asked by a committee of lawmakers whether the government would be able to support affected sectors, Fox said: “There are well known debates in the country about which sectors might be vulnerable to sudden competition from outside,” citing agriculture as one area of concern.

“There are a number of ways in which the government would be able to mitigate any changes.”

Reporting by Kylie MacLellan and Joe Green; editing by Stephen Addison

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