Brexit - UK retail industry warns of higher prices if no UK-EU trade deal reached

Author: Eamonn Sheridan | Category: News

British Retail Consortium (BRC) sounds the alarm on boosted inflation if UK and European negotiators fail to reach a post-Brexit trade deal.

  • without tariff-free trade, higher prices from next year for consumers
  • 80% of UK food imports come from the EU
  • EU imports have a major role in supply chains for other retail sectors also
Earlier this year the UK govmt posted the new schedule for tariffs if there is no deal:
  • will apply from January 1 2021
  • 85% of foods imported from the EU will face tariffs of more than 5%
  • average tariff on food imported from the EU would be over 20%
via Reuters 
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