EY: Only a few days left for domestic companies to request the suspension of tariffs on their products

The tariff suspension can only be issued for products that are not produced in the EU

The aim of the special tariff preferences is to strengthen the competitiveness and production capacity of EU manufacturers against suppliers in third countries. Beneficiary companies can purchase raw materials, semi-finished products and components from outside the EU without paying the general tariff rate.

The tariff suspension can only be issued for products that are not produced in the EU. In the event that a given good can be purchased on the common market, but does not meet the needs of EU users, they can use the above option up to a certain quantity within the framework of a so-called tariff quota. Applications for benefits valid from 1 January 2026 must be submitted by 28 February 2025 at the latest.

“Tariff suspension and tariff quota can also achieve significant cost reductions, and they can also improve liquidity, as the benefits can be valid for up to five years. Among industry players, manufacturers and industrial companies that work with imported raw materials in large volumes can benefit in particular. The prerequisite for a successful application is a detailed and accurate product description, market research certificates, and appropriate coordination with the authorities, for which it is worth seeking expert assistance”

— emphasized Dr. Áron Nagy, Partner at EY.