With immediate effect the UK and US have agreed to suspend retaliatory tariffs on goods including sales of cashmere and whisky to the US.
The team here at Berk are raising a glass after the UK and US agreed to the de-escalation of a transatlantic trade dispute stretching back almost two decades.
The 17-year dispute had led to damaging tit-for-tat tariffs of up to 25%. These border taxes or duties paid by US buyers had specifically targeted cashmere and whisky from the United Kingdom.
Berk CEO Anthony Stennett said: "Berk Cashmere welcomes the common sense approach adopted by the UK Secretary of State, Liz Truss and her US counterpart the US Trade Representative, Katherine Tai." He continued "This deal removes the threat of tariffs being re-imposed on cashmere and enables Berk Cashmere to focus on recovering exports to our largest and most valuable export market, the USA. We heartily welcome the a renewal of the 'special trade relationship' between the US and the UK, Cheers!".
Sales to the European Union are VAT Free and Duty Free at the point of sale.
In other news, now that Britain's Exit from the European Union (BREXIT) has been fully implemented all European Union (EU) sales are VAT FREE. For the avoidance of any doubt Berk Cashmere Ltd will not charge Value Added Tax (VAT) to any customer in the European Union. This is a saving of 20%
Please Note: Neither will we levy any Customs Duty but your local customs office may collect duty at the point of delivery.
This means that the majority of Berk cashmere sweaters, shoes and accessories are exempt from any Customs Duty.