EU states agree schedule of WTO tariff rate quotas after Brexit

BRUSSELS (Reuters) – European Union ambassadors agreed on Wednesday the draft schedule of tariff rate quotas that the bloc will apply after Britain leaves the European Union, an EU statement said.

The adjustment of the quotas entails dividing up the existing quantities allocated to the EU between Britain and the bloc’s remaining member states, “based on previous trade patterns”, the statement said. The agreement will need the approval of the EU Parliament.

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