Billionaire Sir Jim Ratcliffe's petrochemicals group Ineos has announced plans to cut 60 jobs at its Hull Acetyls plant in East Yorkshire, citing "dirt-cheap, carbon-heavy imports from China" and "sky-high" UK energy costs.
If the UK's duty exemption for Low Value Imports is abolished, it would mean a pair of trainers costing £135 would be hit with the UK's full Customs duty for trainers, which is 16%. This could raise their final cost to the shopper to around £156 - a £21 increase.