Trump's tariffs could cause higher prices and less choice in UK supermarkets'
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Trump's tariffs could cause higher prices and less choice in UK supermarkets'
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"Donald Trump's plan to slap 10 per cent tariffs on the UK would leave Britons facing higher prices and less choice on supermarket shelves, a supply chain expert has warned. Oisin Hanrahan, the co-founder and chief executive of Keychain, which works with major supermarkets to identify high costs in the supply chain, told The Independent that the tariffs wouldn't stay confined to trade statistics, it would start showing up in the weekly shop."
Proposed US tariffs of 10 percent from February, rising to 25 percent from June, on UK goods would increase consumer prices and reduce choice on supermarket shelves, a supply chain expert warns. The tariff threat is tied to a US demand that Washington purchase Greenland from Denmark. Supply-chain analysis indicates the added costs would not remain confined to trade statistics but would show up in weekly household shopping. Economists estimate the levy could shave about 0.1 percent off Britain’s GDP, rising to 0.3 percent at higher tariffs, potentially pushing an already fragile UK economy toward recession. Donations help fund on-the-ground reporting and keep journalism accessible without paywalls.
Read at www.independent.co.uk
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