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Brexit 'no deal' to hike clothing prices

The cost of clothing and textile imports could rise by 7% if the UK fails to find a friction-less agreement from the Brexit negotiations the British Retail Consortium has said.

Analysis from BRC has found that even if tariffs remain at zero, there are 405 non-tariff controls in place on a range of products entering the European Union including clothing and textiles. The checks cover rules of origin and dangers to human health, as well as checking if the correct levels of taxation have been placed on goods.

The BRC states that “as members of the EU customs union and single market the UK is not currently subject to any of these controls. However, if we leave the EU without a deal, that will change.

”This will lead to a significant increase in administration for most goods and a risk of substantial delays at borders.”

Helen Dickinson, chief executive of the BRC, said: “It is imperative that we avoid a no-deal Brexit and have an agreement between the UK & EU that maintains frictionless trade, otherwise the cost of importing everyday items will go up. This will inevitably lead to higher prices for consumers and will add to the cost burden on retailers at a challenging time for the industry.”

 

 

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