Europe politics
fromwww.theguardian.com
4 days agoUK steel exports to EU at risk as bloc doubles tariffs and halves quotas
The EU plans to double tariffs and halve quotas on steel imports to curb Chinese imports, impacting UK exports significantly.
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.