User charge. It will now apply to Animal Products and plants entering through the Port Of Dover and the eurotunnel, with individual products facing charges of up to £29. But mixed consigments of things like salami sausage, cheese and yoghurt subject to fees of up to a £145. The government says the money will pay for Border Inspections and new world class facilities to protect biosecurity. Goods from ireland will be exempt for now. Heres our chief economics correspondent, dharshini david. It is one am but this Flower Wholesaler is in full bloom, sorting time sensitive deliveries destined for florists and hotels. With additional checks and imports are to be minimal, the main concern is delays but fees. We not concern is delays but fees. We got present concern is delays but fees. Got present them switch is a huge range and each of these varieties will cost £29 per consignment selling at the five varieties will be £145 in total a day. We probably have two consignments a day. That adds up consignments a day. That adds up to. Around £125,000 a year additional cost. He up to. Around £125,000 a year additional cost. Additional cost. He does not have as yet additional cost. He does not have as yet if additional cost. He does not have as yet if that additional cost. He does not have as yet if that bill additional cost. He does not have as yet if that bill will i have as yet if that bill will just pass to those buying the affected lines will be spread across all their products to minimise the impact on price. It also grappling with a lack of clarity over how checks will work. These changes are not submerging more red tape reducing the risk of imported disease and combined with global trade rules. Now the uk has left the eu, we have to treat that block the same as the rest of the world when it comes to higher risk goods. Have a good day. Forfood, the government claims prices will bejust 0. 2 higher government claims prices will be just 0. 2 higher overall. But its the importance of meats, cheese, the likes of the italian deli thatll see the biggest rises. The cost of Health Certificates is already hitting their ranges. Hitting their ranges. Some su lies hitting their ranges. Some supplies from hitting their ranges. Some supplies from italy hitting their ranges. Some supplies from italy at hitting their ranges. Some supplies from italy at the l supplies from italy at the moment they decided to stop until they can unit, they can find the best way for them to reduce the price and see how it goes, to see whats going to happen in the future. Happen in the future. These formalities happen in the future. These formalities were happen in the future. These formalities were brought i happen in the future. These formalities were brought in | happen in the future. These i formalities were brought in for british businesses who sell to europe three years ago. Whats Im Act Of Europe three years ago. Whats impact of that . Europe three years ago. Whats impact of that . Its europe three years ago. Whats impact of that . Its always impact of that . Its always worth yachting by saying so much has been going on, weve had coma, the war in ukraine, its very hard to be precise but there seems to be a compelling case that brexit has impacted negatively on our trade. , impacted negatively on our trade. W, impacted negatively on our trade. ,. , trade. The cost stemming from these changes trade. The cost stemming from these changes will trade. The cost stemming from these changes will total these changes will total hundreds of millions of pounds for business or even more. After a turbulent few years, so may be a danger of wilting. Dharshini david, bbc news. In joined now by Marco Forgione director general at the institute of export international trade. Welcome. From what youre hearing, our businesses ready for this . , � , for this . No, weve been speaking for this . No, weve been speaking with for this . No, weve been speaking with ports, for this . No, weve been| speaking with ports, port health authorities, importers, and in the eu with producers and in the eu with producers and exporters. Its clear there has been a real lack of communication and engagement. The reality is, it was only just a few days ago that the uk governments Border Control posters actually announced and confirmed as being. The information of the exporters and importers need to know has been late and thats caused problems. Been late and thats caused problem been late and thats caused roblems. ~. , problems. What impact is this havinu problems. What impact is this having on problems. What impact is this having on trade . Problems. What impact is this having on trade . As problems. What impact is this having on trade . As was having on trade . As was highlighted having on trade . As was highlighted in having on trade . As was highlighted in the having on trade . As was| highlighted in the report, since brexit uk exporters particularly micro, small and Medium Enterprises have been severely impacted and we see the reduction of them trading with the eu and we have a real fear that similar will happen now for the eu exporters and producers particularly the really small, medium and enterprises and those bespoke producers who will Just Enterprises and those bespoke producers who willjust either think that its too complicated all decide to delay exporting until everything settles down. The problem is if they do that, getting them restart could be really difficult. Really difficult. How long do ou really difficult. How long do you think really difficult. How long do you think will really difficult. How long do you think will take really difficult. How long do you think will take to really difficult. How long do you think will take to settle | you think will take to settle down . What are we talking about here . , here . The government says the ll here . The government says theyll take here . The government says theyll take a here . The government says theyll take a staged here . The government says l theyll take a staged approach theyll take a staged approach the introduction of the checks which means we wont really know what the implications are probably for many months. {lit probably for many months. Of course this is a really critical time with the Summer Season again for certain goods, its the season when they are moving across borders at pace. They are goods that go off, all those applications. The they are goods that go off, all those applications. Those applications. The food su l those applications. The Food Sunply Chain those applications. The Food Sunply Chain is those applications. The Food Supply Chain is hugely supply chain is hugely integrated in time sensitive. Minutes and hours really make a difference. We have to bear in mind that it is also a point where the and if you have announced that the uk harvest this year is going to be poor because of the weather and the impact over whether growing conditions which means we will be even more reliant on Imported Food nfu. Be even more reliant on Imported Food nfu. What have ou been Imported Food nfu. What have you been able Imported Food nfu. What have you been able to Imported Food nfu. What have you been able to do Imported Food nfu. What have you been able to do to Imported Food nfu. What have you been able to do to support. You been able to do to support businesses on both sides because it is what it is, weve got a crack on and make this work, havent we . The changes that are being work, havent we . The changes that are being proposed work, havent we . The changes that are being proposed by work, havent we . The changes that are being proposed by the | that are being proposed by the government with a Target Operating and changes to the Weather Uk Board operates, in the medium term will have a hugely positive impact but its how we deal with the current problems and the reality is that medication from government has been really poor. Businesses need to be able to plan and it takes time. Fortunately they have not been given information they need unfortunately. Given information they need unfortunately. Given information they need unfortunately. Marco forgione, thank you unfortunately. Marco forgione, thank you for unfortunately. Marco forgione, thank you for talking unfortunately. Marco forgione, thank you for talking to unfortunately. Marco forgione, thank you for talking to us. Unfortunately. Marco forgione, thank you for talking to us. We | thank you for talking to us. We will get more from government later on this and their response to the changes and what they put in place and the communication they provided to businesses. Europes biggest bank hsbc has just released its latest earnings, reporting better than expected profits and announcing its Ceo Noel Quinn has decided to retire. Something of a surprise departure, mr quinn has overseen sweeping changes at the bank in his five years in the topjob. Hsbc said it has already launched a formal process to find a successor. The bank which makes most of its profits in asia posted a pre tax profit of 12. 7 bilion for the january to march period. For a closer look at todays announcement, i am joined by peter hahn, emeritus professor at the London Institute of banking finance. Nice to see you. Are you surprised to hear that noel quinn is now going to retire . Not necessarily surprised. I dont know what his personal reasons were. But i think the big issue for hsbc is that seems these transitions are usually quite competent for them. Its predecessor did not last very long. Weve gone through number of prior one who was there for longer. But it is a big dealfor hsbc. They are trying to find through the successor will be because, as he noted, it may bes bank but it is really an asian bank that is headquartered in london. Absolutely. Its biggest market is hong kong. It has pivoted towards asia to make more money. Thats proved to be a fairly good plan, investing some 6 billion between 2021 and 3251 just asia. Very much his strategy but also he had to navigate the problem of a big, Big Shareholder who wanted to disrupt hsbc and amass the age of that. He sorted that out that he has been a good pair of hands stop what is the thing about him . Bulimba has very much to stabilise the ship that was rocky when hejoined. The bank looks, id like to say it looks a bit more boring today which is good. Its got rid some of its more international problems. It sold canada, argentina, a process thats been continuing for many years to divest and focus. 50 been continuing for many years to divest and focus. To divest and focus. So he has continued to divest and focus. So he has continued on to divest and focus. So he has continued on a to divest and focus. So he has continued on a path, to divest and focus. So he has continued on a path, if to divest and focus. So he has continued on a path, if you i continued on a path, if you look, i think the key announcement is the expectation of increasing dividends and hitting their Profit Targets and i think thats probably generally true for the Banking Sector overall is that we dont see big surprises, we didnt see big surprises, we didnt see any big write ups related to china that could have happened. To china that could have happened to china that could have ha ened. ,. , happened. That was the worry that there happened. That was the worry that there might happened. That was the worry that there might be happened. That was the worry that there might be some that there might be some surprises today again because thats cropped up on previous profits reports. Do you think the worst in terms of china and exposure to any real estate death or anything of that nature, we are through all that now . It nature, we are through all that now . ,. ,. , nature, we are through all that now . ,. , now . It looks that way from hsbc. Now . It looks that way from hsbc the now . It looks that way from hsbc. The encouragement i now . It looks that way from i hsbc. The encouragement and expectations to hit their targets, what we want to see as they have had deposits getting more expensive. Like many uk banks have seen. It is a worldwide phenomenon now that we have Interest Rates began, its a funny thing to say that, its a funny thing to say that, that adjustment is still in process as banks, the Interest Margins adjust. Hsbc� s Net Interest Margin between what they pay for deposits and loans shrink slightly so like other banks getting a bit more worried. Banks getting a bit more worried banks getting a bit more worried. ,. , ~ ,. , worried. Peter hahn, thank you for our worried. Peter hahn, thank you for your thoughts worried. Peter hahn, thank you for your thoughts on worried. Peter hahn, thank you for your thoughts on hsbc. Worried. Peter hahn, thank you for your thoughts on hsbc. The chief executive noel quinn has announced he is to retire so they are looking for a new boss of europes biggest bank. To the us now where its a big day for Financial Markets as the central bank. The Federal Reserve begins a two day meeting to make its latest Interest Rate decision. Wall street is poised as traders gear up for Big Tech Earnings from amazon and apple. One of the big gainers on monday was tesla the electric carmaker� s share price jumped 15 following ceo elon musk� s surprise visit to beijing. Michelle fleury in new york has the details. For apple and tesla investors big question is how are they doing in china . Elon musk� s i karpanyjust got good news on the front with tesla clearing a major hurdle for its full Self Driving Technology in china after years of trying. This is a key moment for the electric car maker, facing fierce domestic competition in china along with softer demand. And remember that tesla isnt just a car company. It is an Autonomous Driving and repo taxi company, massive amounts of data are needed to train its algorithms and fine tune these systems. Meanwhile apple has seeniphone systems. Meanwhile apple has seen iphone sales fall in china, that will of course be in focus when it reports Quarterly Results after the us Market Closed On thursday as will only announcement that it makes on artificial intelligence. Another stock that has the power to move markets this week as amazon. It turned in its report card later today. The tech giant is under pressure to pay shareholders a dividend. Its now the only Big Tech Firm that doesnt after arthur but did it last week. Of course, traders are also keeping a watchful eye on the Federal Reserve and chair jerome powell, the model Inflation Picture has some asking our rate cuts cancelled or simply delayed. If it is widely accepted to leave Interest Rates unchanged with its two day Policy Meeting and on wednesday. It does indeed. Lets talk about the today meeting on the part of the Federal Reserve. What will we learn if anything about when the worlds most powerful central bank will start to cut Interest Rates . To find out, im joined by mike coop from morningstar investment management. Hello to you. Interestingly in the last week some of the big banks around the world and others are really changing their thinking now on when rates might come down in the us. What are you saying at morningstar . It us. What are you saying at morningstar . Us. What are you saying at morningstar . It is pretty clear that markets morningstar . It is pretty clear that markets got morningstar . It is pretty clear that markets got way morningstar . It is pretty clear that markets got way ahead i morningstar . It is pretty clear| that markets got way ahead of themselves in pricing and really large, really quick reductions in Interest Rates, so weve seen the last few months is that markets have stepped back and reacted to the data by reducing expectations. What we need to look at really is just to recognise how restrictive Monetary Policy is to start with, so we are sitting here, with Interest Rates in the us and federal funds are between five five and five and a half and latest cpi was 3. 5. Weve had Interest Rates over 5 to 12 months so youre looking at real Interest Rates are over 2 and the clock is ticking. Thats having an effect on the economy. The Inflation Trends have been down. This more recent period has been about the cost of shelter, so rents and also gas, being a bit higher than expected. But its more really about the markets getting way ahead of themselves. The fed themselves were saying that actually they werent going to respond aggressively to the fallen inflation last year and they would try to look through some of the bumps in the data and we expect the same now. Qm. And we expect the same now. Ok, so lets be and we expect the same now. Ok, so lets be quite and we expect the same now. Ok, so lets be quite specific. Do you believe then that Interest Rates w