News

Representatives from a wide range of areas warned of the No-DEAL risks and the short time remaining for negotiations between the United Kingdom and the European Union. Given the increasing tensions between the two sides, British economic players are beginning to reveal the value of increased costs they will face shortly.

The British Retail Consortium (BRC), a trade association representing UK retailers, warns that if the BREXIT agreement fails, the tariffs on food and drink imports will impact around £3.1 billion a year. It is also expected that this additional cost will be passed on to the final consumer, i.e., food prices will necessarily get higher. Food retailers say there is no other way.

A government speaker has already said that “it would be beneficial for both parties” to avoid rising food prices. And he argues that “the UK is a major importer of food and other goods and avoiding tariffs would be good for both sides, particularly given our commitment to high regulatory standards.”

On its side, European companies are also concerned about the absence of a trade agreement, pointing to considerable losses.

The possible chaos at the Kent border is further exacerbated. Although transportation by lories has been considered from the outset and seen as an extremely sensitive factor, plans such as the Kent Access Permit, which includes monitoring plate registrations to avoid queues of thousands of trucks, are still being worked on in recent days. The truth is that if there is no agreement and the tariffs are applied, the supply of food, fuel, and other products essential for the functioning of the economy may be affected.

Expectations are growing every day as alerts to economic actors multiply. Are they really prepared for the No-Deal? What opportunities are there for the new reality?