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£3bn tariff ahead for UK retailers and consumers, warns BRC

Supermarkets and their customers could face £3bn a year of tariffs on food and drink if a free trade deal is not agreed between the UK and the EU before 1st January 2020, The BRC has warned

In its report the association said an average increase in tariffs of 20% would “leave retailers with nowhere to go,” forcing them to up the price of food in order to “mitigate these new costs.”

Many non-food retailers will also face large tariff bills for products sourced from the EU – the UK’s largest trading partner.

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