40% of UK firms with EU suppliers have signed 'Brexit clauses'

A report from Reuters on businesses supplied by the European Union

• Almost 40% with suppliers in the European Union have signed "Brexit clauses"
• to allow prices or other terms to be renegotiated if trade tariffs return after a no-deal exit

Info via a survey conducted by The Chartered Institute of Procurement Supply (CIPS)

• survey of 817 supply chain managers in UK & EU

More:

• UK firms would incur the cost of any tariffs when buying parts from the bloc, potentially pushing up prices.
• "These potential additional costs are being written into contracts ahead of time," CIPS economist John Glen said. "Where this would be particularly damaging is SMEs (small and medium-sized enterprises) who are not flush with cash."

Don't confuse Brexit clause with Santa Claus