Developing Countries Trading Scheme
The Developing Countries Trading Scheme ("DCTS") is a system of graduated tariffs on goods imported to the United Kingdom from many countries of the developing world, including the least developed countries. The DCTS removes or reduces tariffs and simplifies trading rules. The standard preferences rate is suspended on "standard preferences imports" from 19 June 2023 until 31 December 2025, a period which may be extended. The Scheme consists of three different regimes – one for least developed countries (LDCs), one for low and lower-middle-income countries which are not LDCs but are deemed to be "vulnerable", and one for other such countries. The DCTS makes it easier for an LDC to move on into the intermediary "Enhanced Preferences" scheme when it "graduates", which means losing LDC status.