If this is implemented w/o watering down, it would be the most comprehensive trade restriction with Israel any country has put up so far. It would ban not just import of settler goods (wine, dates, etc) but ban both import and export of services, aka bank transactions, construction tenders, tourism.
After nearly two years of refusing to abide by the bare minimum of international law, the Labour-led British government confirmed this morning that it is working to implement a comprehensive ban on trade with the illegal Israeli settlement enterprise. It will cover both goods and services.