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....The wider energy industry has reacted with scepticism to the plan, saying a price cap could have a negative impact on competition and lead to higher prices. The manifesto pledge would outline plans to cap bills for seven out of 10 households paying standard variable tariffs, which are often criticised as bad deals for consumers by industry watchdogs. ... [Read full article on BBC ]
Sunday 23rd of April 2017 11:10:39 AM
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....Mr Trump's blueprint is not expected to include any proposals for raising new revenue. The much-discussed border tax that would put a tariff on imports - favoured by House Speaker Paul Ryan - will not be in the plan. ... [Read full article on BBC ]
Wednesday 26th of April 2017 12:20:53 PM
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....When companies do not compete as much, that tends to lead to fewer benefits for customers, he said. He added that if the Conservatives did intervene, it would be better if they abolished standard variable tariffs. ... [Read full article on BBC ]
Monday 24th of April 2017 07:29:03 AM
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....It comes as the Trump administration looks to cut US trade deficits. It has threatened to impose tariffs on nations that have trade surpluses with the US, including China and Germany. ... [Read full article on BBC ]
Sunday 23rd of April 2017 09:58:15 AM
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....Conservative ministers have said they need to intervene because many households are paying too much for their energy bills. The manifesto pledge would outline plans to cap bills for seven out of 10 households paying standard variable tariffs, which are often criticised as bad deals for consumers by industry watchdogs. ... [Read full article on BBC ]
Tuesday 25th of April 2017 07:07:41 AM
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....Theresa May’s plan to cap gas and electricity bills could put billions of investment in the UK at risk by creating huge uncertainty over government intentions, according to the body representing the big six energy suppliers. In one of the strongest warnings yet about the impact of the cap on standard variable tariffs pledged by the Conservatives, Energy UK protested against “ill-considered” political intervention. ... [Read full article on Guardian ]
Friday 28th of April 2017 06:01:33 AM
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....". Mr Trump's comments on Nafta come just days after the US imposed a new tariff on softwood lumber coming from Canada. ... [Read full article on BBC ]
Thursday 27th of April 2017 05:40:25 AM
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.... . Full details are not yet known, but it is thought the cap would probably be on standard variable tariffs (SVT). ... [Read full article on BBC ]
Sunday 23rd of April 2017 01:59:35 PM
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.... The pair’s share prices had dipped by similar amounts after Ed Miliband promised an energy price freeze in 2013. Ministers said on Sunday that the cap on standard variable tariffs, which more than two-thirds of households pay, would save the average family around £100 a year. ... [Read full article on Guardian ]
Monday 24th of April 2017 09:05:46 AM
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....The CMA ordered a cap on their bills, because such households do not benefit from the competition that exists for all other consumers. Under this system, the CMA has come up with an initial maximum figure for prices in each region of the UK, usually in line with the cheapest existing ppm tariff. ... [Read full article on BBC ]
Monday 24th of April 2017 11:52:31 AM
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. The United States is slapping hefty new tariffs on the import of Canadian softwood lumber. ... [Read full article on BBC ]
Tuesday 25th of April 2017 07:29:49 PM
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....An energy company’s proposal to scrap default electricity and gas deals in favour of car insurance-style annual renewals could amount to a rebranding exercise and not help billpayers, a consumer group has said. Scottish Power, one of the big six energy suppliers, said the Conservative election pledge to cap standard variable tariffs may harm competition. ... [Read full article on Guardian ]
Wednesday 26th of April 2017 02:52:40 PM
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....The regulator, Ofgem, acknowledges that costs to suppliers are creeping back up, but said the increases did not warrant the level of hikes that the big six – British Gas excepted – have pushed through on millions of customers in recent months. May appears to have chosen what has been described as the “full fat” choice, a cap on the standard variable tariffs that around two-thirds of people are on. ... [Read full article on Guardian ]
Sunday 23rd of April 2017 03:08:01 PM
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.... “For both sides, leaving the negotiating table without a deal shouldn’t be ‘Plan B’ but ‘Plan Z’. Whether it’s tariffs or regulation, a no deal scenario would have chilling effects on both sides of the Channel. ... [Read full article on Guardian ]
Wednesday 26th of April 2017 11:14:03 PM
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.... Mexican foreign minister Luis Videgaray slammed Trump’s plans for a border wall between the United States and Mexico as “a hostile act” on Tuesday and insisted yet again, contrary to Trump’s campaign promises, that Mexico would not pay for the wall. With Canada, Trump announced a new tariff on softwood lumber on Tuesday that triggered concerns of a potential trade war between the two countries. ... [Read full article on Guardian ]
Thursday 27th of April 2017 03:51:09 AM
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....So first of all, what is a customs union between a group of countries? . It is an arrangement in which they impose no tariffs on imports from other countries in the union. ... [Read full article on BBC ]
Tuesday 25th of April 2017 03:09:21 PM
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....The flourishing industry is now seeking the earliest possible notice that there will be a transitional deal post-2019 that “keeps as much as possible” of the status quo for as long as possible. The imposition of either World Trade Organisation tariffs of 10% on passenger cars and up to 22% on commercial vehicles, or non-tariff barriers such as customs controls, would be devastating for a sector that relies heavily on the swift, free movement of parts and finished cars. ... [Read full article on Guardian ]
Thursday 27th of April 2017 03:37:30 PM
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....The Trump administration has drafted an executive order that would withdraw the US from the North American Free Trade Agreement (Nafta), US media say. It is unclear whether President Donald Trump will follow through and strike down the deal, which eliminated tariffs between the US, Mexico and Canada. ... [Read full article on BBC ]
Wednesday 26th of April 2017 06:10:08 PM
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.... Really? In their initial impact, the two policies look almost identical. Fallon’s thin argument is that a cap is more flexible because it would allow tariffs to be cut when the wholesale price of energy fell. ... [Read full article on Guardian ]
Monday 24th of April 2017 06:58:33 PM
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....Capping utility bills was a key policy in Labour’s 2015 general election manifesto, but was rubbished by David Cameron as evidence that Ed Miliband wanted to live in a “Marxist universe”. But the work and pensions secretary, Damian Green, confirmed on Sunday that the Conservatives would allow the market regulator, Ofgem, to impose a price ceiling for customers on standard variable tariffs. ... [Read full article on Guardian ]
Sunday 23rd of April 2017 11:26:37 AM
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.... After all, he has dropped many other campaign pledges, including (fortunately) his oft-repeated vow to label China a currency manipulator “on day one” of his administration. Another possibility would be for Trump to attempt to bully Mexico – the main target of his renegotiation plans – by, say, raising tariffs, in violation of Nafta and World Trade Organisation rules. ... [Read full article on Guardian ]
Tuesday 25th of April 2017 08:44:58 AM
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....“Any consumers who find themselves in debt should get in touch with their supplier right away to prevent the situation getting worse,” Osborne added. Some households could see an energy bill price hike of up to £414 as 16 popular fixed tariffs from seven suppliers expire on April 30. ... [Read full article on Daily Express ]
Wednesday 26th of April 2017 12:01:00 AM
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Latest Finance News related to Tariff

Energy bill caps put billions in investment at risk, say suppliers image
Source : Guardian [Read Article] Friday 28th of April 2017 06:01:33 AM
....Theresa May’s plan to cap gas and electricity bills could put billions of investment in the UK at risk by creating huge uncertainty over government intentions, according to the body representing the big six energy suppliers. In one of the strongest warnings yet about the impact of the cap on standard variable tariffs pledged by the Conservatives, Energy UK protested against “ill-considered” political intervention. ...
Brexit: UK carmakers 'sitting on their hands' rather than investing image
Source : Guardian [Read Article] Thursday 27th of April 2017 03:37:30 PM
....The flourishing industry is now seeking the earliest possible notice that there will be a transitional deal post-2019 that “keeps as much as possible” of the status quo for as long as possible. The imposition of either World Trade Organisation tariffs of 10% on passenger cars and up to 22% on commercial vehicles, or non-tariff barriers such as customs controls, would be devastating for a sector that relies heavily on the swift, free movement of parts and finished cars. ...
Trump won't scrap Nafta trade deal 'at this time' image
Source : BBC [Read Article] Thursday 27th of April 2017 05:40:25 AM
....". Mr Trump's comments on Nafta come just days after the US imposed a new tariff on softwood lumber coming from Canada. ...
Donald Trump to stick with Nafta free trade pact – for now image
Source : Guardian [Read Article] Thursday 27th of April 2017 03:51:09 AM
.... Mexican foreign minister Luis Videgaray slammed Trump’s plans for a border wall between the United States and Mexico as “a hostile act” on Tuesday and insisted yet again, contrary to Trump’s campaign promises, that Mexico would not pay for the wall. With Canada, Trump announced a new tariff on softwood lumber on Tuesday that triggered concerns of a potential trade war between the two countries. ...
CBI warns against Brexit divorce bill row putting EU-UK trade ties at risk image
Source : Guardian [Read Article] Wednesday 26th of April 2017 11:14:03 PM
.... “For both sides, leaving the negotiating table without a deal shouldn’t be ‘Plan B’ but ‘Plan Z’. Whether it’s tariffs or regulation, a no deal scenario would have chilling effects on both sides of the Channel. ...
Trump 'considering draft order to scrap Nafta' image
Source : BBC [Read Article] Wednesday 26th of April 2017 06:10:08 PM
....The Trump administration has drafted an executive order that would withdraw the US from the North American Free Trade Agreement (Nafta), US media say. It is unclear whether President Donald Trump will follow through and strike down the deal, which eliminated tariffs between the US, Mexico and Canada. ...
Car insurance model will not help energy market, says charity image
Source : Guardian [Read Article] Wednesday 26th of April 2017 02:52:40 PM
....An energy company’s proposal to scrap default electricity and gas deals in favour of car insurance-style annual renewals could amount to a rebranding exercise and not help billpayers, a consumer group has said. Scottish Power, one of the big six energy suppliers, said the Conservative election pledge to cap standard variable tariffs may harm competition. ...
Trump seeks tax windfall for business image
Source : BBC [Read Article] Wednesday 26th of April 2017 12:20:53 PM
....Mr Trump's blueprint is not expected to include any proposals for raising new revenue. The much-discussed border tax that would put a tariff on imports - favoured by House Speaker Paul Ryan - will not be in the plan. ...
Millions could reclaim CASH on energy bills after an unexpected mild winter image
Source : Daily Express [Read Article] Wednesday 26th of April 2017 12:01:00 AM
....“Any consumers who find themselves in debt should get in touch with their supplier right away to prevent the situation getting worse,” Osborne added. Some households could see an energy bill price hike of up to £414 as 16 popular fixed tariffs from seven suppliers expire on April 30. ...
Has the US started a lumber trade war with Canada? image
Source : BBC [Read Article] Tuesday 25th of April 2017 07:29:49 PM
. The United States is slapping hefty new tariffs on the import of Canadian softwood lumber. ...
Brexit: Labour's Sir Keith Starmer wants talks over customs union image
....So first of all, what is a customs union between a group of countries? . It is an arrangement in which they impose no tariffs on imports from other countries in the union. ...
Can Donald Trump better renegotiate Nafta? Yes, by bringing back TPP image
Source : Guardian [Read Article] Tuesday 25th of April 2017 08:44:58 AM
.... After all, he has dropped many other campaign pledges, including (fortunately) his oft-repeated vow to label China a currency manipulator “on day one” of his administration. Another possibility would be for Trump to attempt to bully Mexico – the main target of his renegotiation plans – by, say, raising tariffs, in violation of Nafta and World Trade Organisation rules. ...
Government lacks faith in free market, says energy boss image
Source : BBC [Read Article] Tuesday 25th of April 2017 07:07:41 AM
....Conservative ministers have said they need to intervene because many households are paying too much for their energy bills. The manifesto pledge would outline plans to cap bills for seven out of 10 households paying standard variable tariffs, which are often criticised as bad deals for consumers by industry watchdogs. ...
Tories pinched Labour's energy price cap – but now we need detail | Nils Pratley image
.... Really? In their initial impact, the two policies look almost identical. Fallon’s thin argument is that a cap is more flexible because it would allow tariffs to be cut when the wholesale price of energy fell. ...
Energy price cap image
Source : BBC [Read Article] Monday 24th of April 2017 11:52:31 AM
....The CMA ordered a cap on their bills, because such households do not benefit from the competition that exists for all other consumers. Under this system, the CMA has come up with an initial maximum figure for prices in each region of the UK, usually in line with the cheapest existing ppm tariff. ...
Tory energy bill cap dents Centrica and SSE share prices image
Source : Guardian [Read Article] Monday 24th of April 2017 09:05:46 AM
.... The pair’s share prices had dipped by similar amounts after Ed Miliband promised an energy price freeze in 2013. Ministers said on Sunday that the cap on standard variable tariffs, which more than two-thirds of households pay, would save the average family around £100 a year. ...
General Election 2017: Energy bill cap 'will hit consumers' image
Source : BBC [Read Article] Monday 24th of April 2017 07:29:03 AM
....When companies do not compete as much, that tends to lead to fewer benefits for customers, he said. He added that if the Conservatives did intervene, it would be better if they abolished standard variable tariffs. ...
Energy bills: what's the difference between Tory cap and Miliband freeze? image
....The regulator, Ofgem, acknowledges that costs to suppliers are creeping back up, but said the increases did not warrant the level of hikes that the big six – British Gas excepted – have pushed through on millions of customers in recent months. May appears to have chosen what has been described as the “full fat” choice, a cap on the standard variable tariffs that around two-thirds of people are on. ...
Tories accused of stealing Labour's energy price cap promise image
Source : Guardian [Read Article] Sunday 23rd of April 2017 11:26:37 AM
....Capping utility bills was a key policy in Labour’s 2015 general election manifesto, but was rubbished by David Cameron as evidence that Ed Miliband wanted to live in a “Marxist universe”. But the work and pensions secretary, Damian Green, confirmed on Sunday that the Conservatives would allow the market regulator, Ofgem, to impose a price ceiling for customers on standard variable tariffs. ...
General election 2017: Tories to pledge energy bill cap image
Source : BBC [Read Article] Sunday 23rd of April 2017 11:10:39 AM
....The wider energy industry has reacted with scepticism to the plan, saying a price cap could have a negative impact on competition and lead to higher prices. The manifesto pledge would outline plans to cap bills for seven out of 10 households paying standard variable tariffs, which are often criticised as bad deals for consumers by industry watchdogs. ...
IMF meeting drops anti-protectionism pledge image
Source : BBC [Read Article] Sunday 23rd of April 2017 09:58:15 AM
....It comes as the Trump administration looks to cut US trade deficits. It has threatened to impose tariffs on nations that have trade surpluses with the US, including China and Germany. ...
Braced for Brexit image
Source : BBC [Read Article] Friday 21st of April 2017 08:44:19 PM
....However, when Record Store Day 2020 rolls around, there is a risk that those singles and albums could cost significantly more. If the UK does not manage to conclude a favourable trade deal with the EU, then tariffs may be applied on goods coming into the UK. ...
Protectionism is rising the world over. Our best defense is fighting inequality | Wally Adeyemo image
....While protectionism makes for good political soundbites, history is littered with examples of the failure of these policies. Yet it is true that changes to the international trading system are needed, especially non-tariff barriers to trade that harm fair competition. ...
Trump launches investigation into steel dumping image
Source : BBC [Read Article] Friday 21st of April 2017 07:41:27 AM
. Donald Trump has launched an investigation into countries that export steel to the US, raising the prospect of new tariffs on imports. ...
Trump signs order to assess whether steel imports threaten national security image
....While the investigation will appeal to his voters, it is all but certain to worsen trade relations with Beijing and comes just days after Trump backed down from his accusations that China was a “currency manipulator”. In January China criticised “extreme” tariffs on its exports and said it had already been hit with a record number of retaliatory trade measures from rival economies and trading blocs in 2016. ...
ENERGY PRICE WARNING: Fury as firms hit customers with sneaky £400 HIKES  image
Source : Daily Express [Read Article] Thursday 20th of April 2017 11:36:00 AM
....8 per cent dual fuel price rise being publicised. "Customers coming off cheap fixed-price tariffs can be in for a huge double whammy. ...
UK gas and electricity customers face price rise double whammy image
Source : Guardian [Read Article] Thursday 20th of April 2017 05:59:19 AM
....Thousands of households are being hit with 40%-plus increases to their gas and electricity bills – far above the price hikes announced by the big energy firms in recent months. A combination of sneaky changes to billing structures, regional variations and the fact that many popular fixed-price tariffs have come to an end have left furious Guardian Money readers complaining that their bills are set to rise by £300 to £400 a year, contrary to official price rise figures from the major providers. ...
Government cap on energy prices would spark backlash | Nils Pratley image
Source : Guardian [Read Article] Wednesday 19th of April 2017 06:12:57 PM
.... Clark wants to take “muscular and strong” action to stop the “flagrant mistreatment” of loyal customers who are being “milked”. Probable translation: he wants a price cap on standard variable tariffs. ...
UK government vows strong action to rein in energy companies image
Source : Guardian [Read Article] Wednesday 19th of April 2017 12:25:24 PM
....Clark said the plans, which are expected to include some form of price cap, would show “very decisive action”. Clark said he was acting because of the “flagrant mistreatment” of loyal customers who default on to more expensive standard tariffs and are collectively paying a billion pounds more than they need to. ...
Energy secretary to 'flex muscles' over rising bills image
Source : BBC [Read Article] Wednesday 19th of April 2017 10:49:17 AM
....Business and Energy Secretary Greg Clark said that, owing to the imminent election, the date for this "decisive" move was being reviewed. He claimed that firms "milked" loyal customers through rising default gas and electricity tariffs. ...
Burberry shares dive despite sales rise image
Source : BBC [Read Article] Wednesday 19th of April 2017 09:32:28 AM
....Burberry's chief finance officer Julie Brown said: "Clearly, with the election announced yesterday, there is a period of instability as we go through Brexit, and that's a concern for any global business. We're interested in understanding what the tariffs will be on exports from the UK. ...
Services matter image
Source : BBC [Read Article] Tuesday 18th of April 2017 11:13:46 PM
....Much of the debate has focused on trade in goods. Will there be tariffs on British exports to the EU and vice versa? President Trump has threatened carmakers with a "border tax" if they expand operations in Mexico. ...
Big six energy firms braced for government price crackdown image
Source : Guardian [Read Article] Monday 17th of April 2017 03:43:01 PM
....on, EDF, npower, ScottishPower, and SSE – and dozens of smaller suppliers. A government crackdown is expected as soon as next Monday, most likely in the form of a price cap on the standard variable tariffs affecting nearly two-thirds of households. ...
Trade agenda image
Source : BBC [Read Article] Thursday 13th of April 2017 11:17:15 PM
.... The US expects China to offer better access to its market, including for beef and services companies. Mr Trump's campaign language about possibly imposing large tariffs on imports from China, as much as 45%, was not on display this time. ...
Is business starting to get spooked about Donald Trump? | Larry Elliott image
Source : Guardian [Read Article] Thursday 13th of April 2017 12:36:22 PM
....On this last point, at least, there was some sense in what the president had to say. It is all very well sabre rattling about the imposition of tariffs and putting taxes on imports but a rising currency would blunt the impact of any protectionist measures by making US exports dearer. ...
Millions of EDF customers face second price rise this year image
Source : Guardian [Read Article] Wednesday 12th of April 2017 11:36:37 AM
....5 million customers. The consumer group Which? urged Theresa May to step in if energy groups, which have made a series of tariff increases in 2017, do not help households circumvent the steepest increases. ...
EDF raises electricity prices for second time this year image
Source : BBC [Read Article] Wednesday 12th of April 2017 10:24:45 AM
. Energy firm EDF is raising the price of electricity for the second time this year for customers on standard tariffs. ...
Trump's trade barriers would be self-inflicted wound, says IMF chief image
Source : Guardian [Read Article] Wednesday 12th of April 2017 10:15:57 AM
....”. Trump has threatened to put swingeing tariffs on Chinese goods and to impose a tax on imports coming into the US, as part of an economic strategy designed to put America first. ...
Trump is reckless – but he knows he can't afford to antagonise China | Barry Eichengreen image
.... The 1930 Smoot-Hawley Tariff didn’t cause the Great Crash, much less the Great Depression. But that tariff and the foreign retaliation it elicited sent the stock market down still further, which was hardly helpful. ...
Inflation is only going one way. Let's hope interest rates don't follow | Larry Elliott image
.... It’s quite clear it isn’t. Food is going up, energy companies are raising their tariffs, retailers are passing on the higher costs of imports caused by a weaker pound. ...
Free trade warning – IMF, WTO and World Bank say it must be defended image
....”. Trump campaigned on an overtly protectionist manifesto, pledging to withdraw the US from a regional trade deal – the Trans-Pacific Partnership – and serving notice on Mexico and China that they could face swingeing tariffs. ...
‘We will be forced to close’: Polish and Czech food stores post-Brexit image
.... But Brexit will bring border checks and these alone increase costs due to the extra trouble and time they incur, Smith says. “Then there’s also the possibility that the UK would put import tariffs on those products,” he adds. ...
America owes China $1tn. That’s a problem for Beijing, and Trump knows it image
....Xi will certainly be hoping Trump’s cordial welcome was for real, because China has much more to lose economically from a trade war than America does. This might sound counter-intuitive given that Beijing can deploy the economic nuclear option if Trump makes good on his campaign pledge to slap whopping tariffs on Chinese imports. ...
Ford sees a future in UK after Brexit, says CEO Mark Fields image
Source : BBC [Read Article] Saturday 8th of April 2017 08:56:57 AM
....Industry trade body the Society of Motor Manufacturers and Traders said in January that uncertainty around Brexit and the UK's future trading arrangements had hit investment in the car sector. Although Toyota has announced new investment, the Japanese car giant said "continued tariff-and-barrier free market access between the UK and Europe. ...
Brexit raises spectre of dearer Guinness and Baileys image
Source : Guardian [Read Article] Friday 7th of April 2017 04:10:28 PM
. Cans of Guinness could be an unexpected casualty of Brexit if a new customs border or tariffs are introduced between the Republic and Northern Ireland when the UK leaves the European Union, it has emerged. ...
It's that time of year to spring clean your finances with the help of our expert tips image
....You can save hundreds or thousands of pounds a year by switching home energy, broadband, digital TV and mobile supplier, Baliszewski says. Check your motor, home and travel insurance policies before you autorenew: “Comparison sites lay out all options and tariffs. ...
Trump's trade tactics image
Source : BBC [Read Article] Tuesday 4th of April 2017 11:33:23 PM
....So, what can President Trump do about the trade deficit? . Candidate Trump threatened harsh protectionist measures, such as a 45% tariff on Chinese imports, but history shows that protectionism does not reduce trade deficits. ...
Will populist leaders stifle the global recovery – or vice versa? image
Source : Guardian [Read Article] Tuesday 4th of April 2017 03:32:12 PM
.... It is hard to overstate how much rides on the Sino-US relationship, and how damaging it would be if the two sides cannot find a way to work together constructively. The Trump administration believes that it has the bargaining tools to recalibrate the relationship to America’s advantage, including a tariff on Chinese imports or even selectively defaulting on the more than $1tn the US owes to China. ...
Hull after Brexit – will the City of Culture regret voting out? image
Source : Guardian [Read Article] Sunday 2nd of April 2017 02:30:03 PM
....A month after the referendum, the chief executive of Siemens UK, Juergen Maier (who came to Britain as a 10-year-old with his family from Germany in 1984, and wrote passionately before the referendum in favour of EU membership) said in a statement that plans for export from Hull were now on hold. “Those plans were only beginning to happen,” said Maier, “and I expect that they will stall until we can work out exactly what the plan is for how we can participate in EU research programmes, and until all the issues around tariffs and trade have been sorted out. ...
Industrial heartland is in no fit state to pump up UK exports image
Source : Guardian [Read Article] Sunday 2nd of April 2017 06:00:46 AM
.... They had become fat and lazy, and now they would be forced to be more entrepreneurial. Setting aside the reasons why countries all over the world mostly export to their neighbours (it’s cheaper, and there are shared histories and cultures) and try to do so within free-trade blocs (profits are higher when tariffs are low and regulations are harmonised). ...
Five-minute guide to 'National Price Hike Day' image
Source : Daily Express [Read Article] Sunday 2nd of April 2017 12:01:00 AM
....Others have introduced even larger hikes, for example, Npower dual-fuel bills have just gone up by 9. 8 per cent, leaving customers on a standard variable tariff £110 out of pocket. ...
Black market image
Source : BBC [Read Article] Saturday 1st of April 2017 11:30:24 PM
....In fact, this kind of smuggling was a vital part of Britain's economy for some 200 years. It was a trade triggered by increasingly high tariffs or duties, taxes a merchant would have to pay to legally import tea. ...
Energy price cap would damage competition, says SSE boss image
Source : Guardian [Read Article] Thursday 30th of March 2017 12:51:29 PM
....Alistair Phillips-Davies, chief executive of SSE, said that it was disappointing that the retail energy market was still facing intervention having just undergone an 18-month investigation by the competition watchdog. He added that it would be a shame if competition was damaged by a cap on standard tariffs, as some campaigners and politicians have been calling for after a recent spate of price hikes by energy suppliers. ...
UK businesses welcome May's free trade call but warn of no-deal Brexit disaster image
....British businesses have cautiously welcomed the prime minister’s pledge to work for a “bold and ambitious free trade agreement” with the EU as part of the Brexit negotiations, but reiterated warnings that it would be disastrous for the UK to leave without a deal. Concerns have been rising among businesses in recent weeks that the UK could be heading towards a hard Brexit that would mean paying World Trade Organisation tariffs of about 5% on imports and exports with Europe. ...
Price of imported fruit and vegetables 'will rise by up to 8% after Brexit' image
....”. Smit’s arguments counter claims from Brexit supporters that food prices will fall as high tariffs on goods imported from outside the EU are removed. ...
Brexit Britain image
Source : BBC [Read Article] Tuesday 28th of March 2017 11:04:40 PM
....So what is a free trade deal and how does it differ from membership of the WTO? . A free trade area is one where there are no or reduced tariffs, or taxes or quotas on goods and/or services from one country entering another. ...
Settle Brexit bill quickly to boost chance of free trade deal, say pro-EU Tories image
....“The divorce bill is small change over the time we will have to pay it, compared to what’s at stake in a future trade deal,” he said, adding that the intransigence over the bill “points up the idiocy of those in the government who are preparing for a breakdown over the divorce by saying that no deal is better than a bad deal. They are clearly people who know nothing about the costs of tariffs and customs duties. ...
​Sweet Brexit: what sugar tells us about Britain’s future outside the EU image
.... Extracting sucrose from beet on an industrial scale is said to date from the Napoleonic wars when Britain blockaded shipments of cane from tropical growers, and Napoleon set his scientists to work finding alternative ways of keeping sugar on the shelves of Europe. France remains the largest and most efficient grower of beet, but the crop’s influence is now felt across an EU that protects producers with quotas and subsidies, and limits sugar cane imports through punitive tariffs. ...
UK manufacturers tell May no EU deal is 'simply unacceptable' image
Source : Guardian [Read Article] Monday 27th of March 2017 05:01:00 AM
....But in a new report EEF said the manufacturing sector would be badly affected by losing access to the single market and the customs union and that not having a new trade deal would leave it particularly exposed on day one. If there is no agreement between Britain and the EU then businesses could face World Trade Organisation tariffs of more than 5% on exports to the continent. ...
Dyson plays down hard Brexit concerns as company posts £2.5bn record sales image
. Sir James Dyson, the billionaire investor, has played down concerns that a “hard Brexit” could harm the UK economy by claiming that World Trade Organisation tariffs have not prevented his technology company from achieving record financial results. ...
Half-in, half-out of customs union would be worst Brexit option, says thinktank image
.... Its recently appointed director, Henry Newman, previously worked for the former trade minister Lord Maude. Its report said if the UK remains in the customs union it would not be able to sign its own trade deals or alter its own tariffs at the WTO. ...
Parts of UK that voted for Brexit may be hardest hit, study finds image
Source : Guardian [Read Article] Sunday 26th of March 2017 11:01:43 PM
....The government hopes to soften the impact of leaving the single market by striking a new free trade agreement, but with EU negotiators insisting that Britain first settle the terms of its divorce settlement, there are growing fears that it will instead crash out of the union without a deal. In this scenario, exporters would be forced to rely on World Trade Organisation (WTO) terms, which include punitive tariffs for many agricultural products and manufactured goods such as cars. ...
Brexit: Food chiefs warn on EU tariffs image
Source : BBC [Read Article] Sunday 26th of March 2017 08:55:57 PM
....Mrs May will trigger Article 50, after which the UK has two years to finalise the terms on which it will withdraw from the EU. The NFU, BRC and FDF urged ministers to ensure higher tariffs were not imposed on imported and exported produce. ...
118 directory enquiry numbers now cost more than a premium rate image
Source : Guardian [Read Article] Sunday 26th of March 2017 07:59:25 AM
.... The intention was to make the cost of a call clearer to customers, but critics claim it has instead increased confusion and caused costs to soar. The situation now is that 0845 and 0870 numbers span more than 100 escalating price tariffs, from free calls to £15. ...
Brexit talks will fail without compromise: José Manuel Barroso image
Source : Guardian [Read Article] Saturday 25th of March 2017 07:00:09 PM
....About 52% of all UK manufactured exports by value went to the EU in the 12 months to April 2016, with production processes crossing European borders numerous times. Estimates in the chemicals sector have shown that a tariff of between 4% and 6% tariff, which the EU imposes on non-member states, would increase direct trading costs by more than £50m for a single company. ...
Cadbury says chocolate could get smaller after Brexit image
Source : Guardian [Read Article] Friday 24th of March 2017 01:56:19 PM
.... The second is ensuring that there is no new, more complex regulation and that there is free movement of goods and minimal barriers to trade. Regulation impacts complexity, complexity impacts costs, as do trade barriers and tariffs. ...
No EU trade deal is better than a bad deal? Don’t bet on it, Theresa May | Jonathan Portes image
....And it’s true that the WTO does provide a safety net. WTO rules mean the EU couldn’t impose punitive tariffs on us out of spite – it would have to treat our exporters in broadly the same manner as those from the US. ...
Energy price cap implications ominous, former regulators say image
Source : BBC [Read Article] Thursday 23rd of March 2017 06:49:47 AM
....According to five former energy regulators, such a move would have an "adverse effect" on the market and could have "ominous implications". Their intervention comes amid speculation that the government is poised to announce price controls for customers on standard energy tariffs. ...
Brexit: Single market benefit 'largely imaginary' image
Source : BBC [Read Article] Thursday 23rd of March 2017 12:13:02 AM
....This usually refers to the European Union's single market and is perhaps the most ambitious type of trade co-operation. That's because as well as eliminating tariffs, quotas or taxes on trade, it also includes the free movement of goods, services, capital and people. ...
Boss of British Gas owner gets 40% pay rise as millions live in fuel poverty image
....02m in 2015 to £4. 15m in 2016, enough to pay the heating and lighting bills for nearly 4,000 customers on the company’s standard tariff. ...
Do not let Brexit ruin car industry, urges chair of London Taxi Company image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 07:51:15 AM
....The increase in costs – equivalent to more than 10% per vehicle – would hit if Britain falls back on World Trade Organisation rules after leaving the EU. Even if the UK agrees a tariff of 5% with the EU on importing and exporting cars and 2. ...
Trouble on the ranch image
Source : BBC [Read Article] Wednesday 22nd of March 2017 12:01:57 AM
.... . President Trump's promise to renegotiate Nafta and possibly place tariffs on Mexico or other US trading partners has the industry worried. ...
Texas cattle rancher fears for future image
Source : BBC [Read Article] Tuesday 21st of March 2017 11:55:40 PM
. Texas cattle rancher Coleman Locke is concerned that farmers like him could be the losers if President Donald Trump goes ahead with his promise to renegotiate Nafta and possibly place tariffs on Mexico or other US trading partners. ...
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Lord King: Scotland 'could be independent' image
Source : BBC [Read Article] Monday 20th of March 2017 09:34:16 PM
....On the implications for Northern Ireland's border with the Republic of Ireland post-Brexit, Lord King said it was in "everyone's interests to have an imaginative discussion about where we should go". He said there may be a "way of shifting the tax and tariff border, from the land frontier to the sea frontier while not disturbing the political arrangements". ...
Hard Brexit 'could increase cost of making a car in UK by £2,400' image
Source : Guardian [Read Article] Monday 20th of March 2017 06:34:46 PM
....The increase in costs – equivalent to more than 10% per vehicle – would hit the average UK-built car if Britain falls back on World Trade Organisation rules after leaving the European Union. Even if the UK agrees a tariff of 5% with the EU on importing and exporting cars and 2. ...
Vodafone deal creates India mobile giant image
Source : BBC [Read Article] Monday 20th of March 2017 05:09:56 AM
.... . That has forced firms to keep tariffs low, significantly affecting their profitability. ...

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