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