What No Deal Brexit tariffs mean and how they could push up cost of imported Volkswagen cars, steak and cheese

SHOPPERS could pay more for items such as steak and cheese, while the price of cars and clothing may also increase as a result of a no deal Brexit. Usually there’s no tax – known as a “tariff” to pay on goods being imported into the UK from the EU. But if a trade deal with the EU isn’t agreed, a tax on one in 10 European Union imports to the UK will be introduced. And there’s a fear that these higher taxes could be passed onto consumers in the form of higher prices. The temporary tariff regime would last for the first 12 months after a no deal Brexit while the Government comes up with a permanent solution. Which items could rise in price? It’s mostly food items that face the import tariffs because the Government says it wants to protect British farmers from the impact of a flood of cheap goods from around the world. But Matthew Lesh, head of research at think tank the Adam Smith Institute, says it means shoppers will end up paying more – particularly for meat. He said: “Brits are set to pay substantial import taxes on meat. We’ll be paying more for… Read full this story

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