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Britain ditches EU trade system, unveils new trade strategy for developing countries
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Britain has launched a scheme to extend tariff cuts to hundreds of products, such as clothes and food, from developing countries, part of London's post-Brexit efforts to set up systems to replace those run by the European Union.
In June, Prime Minister Boris Johnson said he wanted to start a new trade system to reduce costs and simplify rules for 65 developing countries to replace the EU's Generalized System of Preferences, which applies import duties at reduced rates.
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Trade minister Anne-Marie Trevelyan said the Developing Countries Trading scheme (DCTS) would extend tariff cuts to hundreds more products exported from developing countries, a system, she said, that goes further than the EU scheme.