By Harry Holmes2021-01-07T14:57:00+00:00
The trade deal dodges punishing tariffs, but there are plenty of changes for the UK food industry to adapt to, despite little notice
It went down to the wire, but a UK-EU trade agreement is finally in place. The impacts will touch almost every corner of the food industry, yet the deal’s full implications will not be understood for months, if not years.
Perhaps most vitally, the deal avoids punishing tariffs that could have pushed average food prices up 5%, according to Tesco chairman John Allan. Given the majority of the UK’s food imports come from the EU, BRC CEO Helen Dickinson says the deal should allow British households to breathe “a collective sigh of relief”.