UK poised to remove import tariffs on Malaysian palm oil

NEW YORK: The British government is planning to eliminate import tariffs on palm oil from Malaysia, the price of joining an Asia-Pacific trade deal, the Financial Times reported on Tuesday (March 14), citing people involved in the talks.

Malaysia has successfully demanded Britain cut its palm oil tariffs, which currently range up to 12%, to zero immediately on entering the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), the FT said. – Reuters