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: Goodbye paper receipts: All documents stored in one app...
16.05.2019   #epos systems #cashpoints, cash register, cash desk

Goodbye paper receipts: All documents stored in one app

What happens when the Receipt Provision Ordinance takes effect? We digitize!

They create a lot of work and endless waste: tons of paper receipts from cash registers end up with customers or the waste bin every day. In early 2020, all consumers must be given a purchase receipt in Germany. That’s what the law mandates. ...

Thumbnail-Photo: Robots in retail: producer and salesperson all-in-one at the fully...
15.03.2019   #artificial intelligence #customer retention

Robots in retail: producer and salesperson all-in-one at the fully automated kiosk

Interview with Matthias Krinke, Managing Director of pi4_robotics GmbH

At Berlin’s shopping mall Bikini Berlin, we meet the robot “Gisela”. The robot’s designer Matthias Krinke sat down with us and explained what she can do and revealed what the retail industry can expect from her and her ...

Thumbnail-Photo: Online inventory management system
06.05.2019   #online trading #e-commerce

Online inventory management system

5 things e-commerce retailers should look for

In order to perform online efficiently as an Internet retailer, one needs to choose the most effective inventory management system. Its main features should include centralised user interface, full automation, automated stock checking and ...

Thumbnail-Photo: Cameras, comfort and Artificial Intelligence...
09.04.2019   #security #cashpoints, cash register, cash desk

Cameras, comfort and Artificial Intelligence

Video: What self-checkout systems can already offer today

Self-checkout systems are enjoying ever greater acceptance and are regarded as an important future topic for retailers and customers. ...

Thumbnail-Photo: Internal communication via app at Modehaus Ramelow...
03.06.2019   #personnel management #app

Internal communication via app at Modehaus Ramelow

Mobile chat works as a bulletin board

What's new at Modehaus Ramelow? The fashion retailer’s employees can check PIA - and share information to their heart’s content. PIA is an app for "private information exchange".More and more internal communication ...

Thumbnail-Photo: Plantorama grows
04.04.2019   #brick and mortar retail #electronic shelf labels (ESL)

Plantorama grows

And so does the customer experience

The largest garden and animal center chain in Denmark invests in a new and large inspiring garden center in the city Egå near Aarhus.  An extra effort is made for the customer experience with initiatives such as a coffee shop, a ...

Thumbnail-Photo: E-commerce: AI-powered translations revitalize business...
29.04.2019   #online trading #e-commerce

E-commerce: AI-powered translations revitalize business

Interview with Boris Zielonka, Director Marketing & Sales, Eurotext AG

Retailers who set up an online store can expand their business – especially if they create a multilingual content strategy.As a language and translation service, Eurotext AG supports retailers in this endeavor. From this conversation with ...

Thumbnail-Photo: APG Cash Drawer announces hire of connectivity product manager...
08.03.2019   #cashpoints, cash register, cash desk #POS Solutions

APG Cash Drawer announces hire of connectivity product manager

They make addition to product management team to expand its product portfolio

APG Cash Drawer, a fast-growing global manufacturer of cash management solutions, announced today the addition of Ron Stephenson to the position of Connectivity Product Manager. In his role, Ron will spearhead the company’s mobility, interface ...

Thumbnail-Photo: New innovative hybrid POS solution for small businesses...
20.05.2019   #pos systems #cashpoints, cash register, cash desk

New innovative hybrid POS solution for small businesses

Posiflex presents a new innovative Hybrid POS solution for small businesses

The Retail market is always evolving, and so is Posiflex. Posiflex continually stays attached to the market and identifies ahead what the market really needs. Posiflex is honored to present its latest innovative Hybrid POS solution, WT-3007A, to the ...

Thumbnail-Photo: Quality and great experiences at irma in Illum...
18.04.2019   #electronic shelf labels (ESL) #labels

Quality and great experiences at irma in Illum

A store with all the best

The customers wanted Irma back and they got that. After two years of absence, Irma has once again opened a store in the basement of ILLUM department store in the late summer of 2018. The new Irma store offers high quality and extra good experiences ...

Supplier

APG Cash Drawer
APG Cash Drawer
4 The Drove
BN9 0LA Newhaven
LANCOM Systems GmbH
LANCOM Systems GmbH
Adenauerstraße 20 / B2
52146 Würselen
Permaplay Media Solutions GmbH
Permaplay Media Solutions GmbH
Aschmattstr. 8
76532 Baden-Baden
Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen
ROQQIO Commerce Solutions GmbH
ROQQIO Commerce Solutions GmbH
Harburger Schloßstraße 28
21079 Hamburg