News • 28.12.2017

Shoppers to lose out if UK doesn’t adopt EU global trade deals

“Higher tariffs inevitably mean consumers would face higher prices”

Photo: Flags of UK and EU as separate puzzle pieces; copyright:...
Source: panthermedia.net / Ruletkka

As a member of the EU, the UK currently benefits from zero or low rate tariffs on various imports from trade deals that the EU has negotiated with third countries. From the day after the UK leaves the EU, on 30 March 2019, it will no longer be covered by these international agreements, so imported goods will be subject to higher tariffs and potential customs barriers. For consumers this means higher prices.

Using import data from UK retailers, the BRC has identified the countries where negotiating replica trade agreements will make the most difference to ensure prices don’t rise immediately on exit. These deals are particularly important for the price of food and clothing for UK shoppers. For instance, in the event of a no deal, the tariff on clothing from Turkey, a major supplier to the UK, could rise from zero to 12 per cent, and fish from Iceland from 3.4 to 11 per cent.

Graphics: Infographics about affected products without new trade deals;...
Source: BRC

Andrew Opie, Director of Food & Sustainability at the British Retail Consortium said: “While securing a deal with the EU to enable tariff-free trade to continue remains the priority, the deals the EU has negotiated with countries around the world also contribute to the choice and affordability of goods that UK shoppers purchase every day. People need reassurance from Government that these deals will be transferred in time to ensure that UK consumers don’t lose out.

“New or higher tariffs inevitably mean consumers would face higher prices in their everyday shop, as staple products such as fruit, vegetables, fish, and clothing would be hardest hit. Price increases of any scale would add to the burden of hard-pressed consumers whose finances are already being squeezed by inflationary pressures.

“Now that an agreement has been reached to move the negotiations on to trade, the focus must be on securing the continuity of free trade with Europe, alongside replicating these existing agreements with countries outside of the EU. These are the crucial next steps that Government needs to take to avoid a cliff-edge situation on Brexit day and to deliver a fair Brexit for consumers.”

Source: British Retail Consortium

related articles:

popular articles:

Thumbnail-Photo: First of its kind accessible checkout unveild by Woolworths, creating...
03.01.2024   #Tech in Retail #cashpoints

First of its kind accessible checkout unveild by Woolworths, creating new employment opportunities

Breaking Barriers in Retail: Woolworths' New Checkout Design for Wheelchair Users

In what is believed to be a world first, Woolworths has unveiled an accessible checkout, designed specifically for team members living with a physical disability, including people who use wheelchairs and other mobility aids such as walkers.The first ...

Thumbnail-Photo: New German vending partner for ITL
30.11.2023   #Tech in Retail #cash management

New German vending partner for ITL

Innovative Technology (ITL) have recently announced Bernd Boddart as their latest trading partner

Bernd Boddart will be supplying their cash validation and biometric age verification solutions to the German vending market. Bernd Boddart, based in Mönchengladbach, Germany, have 30 years of experience in the field of coffee machines, table ...

Thumbnail-Photo: EuroCIS 2024 - technology special
11.12.2023   #online trading #e-commerce

EuroCIS 2024 - technology special

The latest technology solutions and trends for you and the retail sector

At EuroCIS 2022 from February 27 to 29, 2024, the Leading Trade Fair for Retail Technology, we will be looking at all the important and current topics relating to technology in retail: AI and Machine Learning, Payment, Connected Retail, Seamless Store and Smart Energy Management and many more.

Thumbnail-Photo: Tesco to introduce new scan-free technology on self-service tills at...
03.01.2024   #brick and mortar retail #Tech in Retail

Tesco to introduce new scan-free technology on self-service tills at GetGo store

Seamless Shopping Revolution: Tesco Tests Scan-Free Technology in London

Tesco is trialling an exciting new technology innovation that means customers don’t need to scan their items ...

Thumbnail-Photo: SES-imagotag becomes VusionGroup
29.01.2024   #software applications #artificial intelligence

SES-imagotag becomes VusionGroup

A new identity highlighting the broader portfolio of innovative solutions
developed by the Group to solve the major challenges of physical commerce

SES-imagotag (Euronext: SESL, FR0010282822), the global leader in digital solutions for physical commerce, today announced that it has changed its name to VusionGroup. This new name embodies the various product lines and solutions that have enhanced ...

Thumbnail-Photo: MPREIS Transforms Operations with Zebra Workcloud Task Management™...
06.11.2023   #customer experience #software developement

MPREIS Transforms Operations with Zebra Workcloud Task Management™ Software Solution

Austrian food retailer to streamline communication in around 300 stores to improve staff engagement, inventory optimisation, and customer satisfaction

MPREIS has around 300 Austrian stores in regions across Tyrol...

Thumbnail-Photo: Payment as a success factor: more than just paying...
15.01.2024   #Tech in Retail #payment systems

Payment as a success factor: more than just paying

Flashback to 1994: databases and ERP systems, first commercial websites, mobile phones with colour displays, CD-ROMs, Java as a programming language ...

Thumbnail-Photo: Nedap teams with Foot Locker to extend RFID project...
05.10.2023   #omnichannel #software applications

Nedap teams with Foot Locker to extend RFID project

Foot Locker successfully matches supply and demand in newly opened stores in Eastern Europe using RFID technology

Nedap the global leader in RFID solutions, announces that multi-brand sports fashion and apparel retailer Foot Locker has successfully extended Nedap iD Cloud to its new, Eastern European stores. The objective is to offer the best possible ...

Thumbnail-Photo: Unified Commerce Platform in focus
24.10.2023   #omnichannel #software developement

Unified Commerce Platform in focus

Handover at REMIRA: Dirk Bingler supersedes Stephan Unser as CEO

REMIRA is setting the course for future development of the company: On November 1, Dirk Bingler (48) will become the new CEO of the supply chain and omnichannel software expert headquartered in Dortmund. The previous CEO Stephan Unser (62) moves to ...

Thumbnail-Photo: Out of Stock in Retail and innovative solutions to avoid them...
07.11.2023   #brick and mortar retail #customer satisfaction

Out of Stock in Retail and innovative solutions to avoid them

Due to various events, the availability of goods in retail will be increasingly restricted from 2022, with the result that customers cannot find in food retail the products they wish to buy, because those products are sold out, are temporarily ...

Supplier

REMIRA Group GmbH
REMIRA Group GmbH
Phoenixplatz 2
44263 Dortmund
Innovative Technology Ltd.
Innovative Technology Ltd.
Innovative Business Park
OL1 4EQ Oldham
VusionGroup SA
VusionGroup SA
55 place Nelson Mandela
90000 Nanterre
Zebra Technologies Germany GmbH
Zebra Technologies Germany GmbH
Ernst-Dietrich-Platz 2
40882 Ratingen
Captana GmbH
Captana GmbH
Bundesstraße 16
77955 Ettenheim