UK kick starts preparation for trade negotiations with India

UK kick starts preparation for trade negotiations with India

14-week consultation launched to seek views from the public and businesses Trade Secretary Liz Truss has today kicked off preparations for a trade deal with India, launching a 14-week consultation to seek the views of the public and business. The UK wants a deal that slashes barriers to doing business…

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New tariff suspension scheme tailored to UK economy

The UK is to launch its own tariff suspension scheme, designed to help make companies more competitive.   UK firms will be given further help to become more globally competitive in a new scheme to suspend tariffs on certain imports. It will allow companies that use imports to ask for…

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BCC welcomes ratification of UK-EU TCA but says work remains to be done

Speaking after news that the Trade and Co-operation Agreeement has been ratified, Hannah Essex, Co-Executive Director of the BCC, said:  “While there may be relief that the ratification of the TCA has gone smoothly, the reality is that the changes within the agreement have been operational now for almost four months.…

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Concerns over Inflation Rise as Manufacturers’ Price Expectations Climb to 4-year High

Balance of manufacturers expecting their prices to increase highest since Q4 2017 87% of production & manufacturing firms cited pressure to raise prices from raw material costs Overall, 38% of firms expect prices to rise in the next quarter, while only 5% expect prices to decrease The British Chambers of…

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UK exports to EU see partial rebound after January flop

Exports of goods from the UK to the EU partially rebounded in February 2021, increasing by £3.7 billion (46.6%) after a record fall of £5.7bn in January, according to the latest figures released by the Office for National Statistics (ONS). The ONS said that the increases in exports to the EU in February 2021…

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IMF forecasts stronger recovery for world economy

The International Monetary Fund is now forecasting a stronger economic recovery this year and next. The IMF has upgraded both its UK and global forecasts compared with what it projected in January. But the British economy is still predicted to return to its pre-pandemic level of activity only in late…

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Liz Truss unveils plans to work with G7 to tackle global trading challenges

International Trade Secretary sets out agenda to champion free and fair trade as she chairs ministers’ meeting of first ever G7 Trade Track International Trade Secretary to chair ministers’ meeting of first ever G7 Trade Track. UK will champion free and fair trade for all nations, and call out unfair…

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Liz Truss announces creation of four major new Trade and Investment Hubs across the UK

New trade hubs will channel the economic benefits of international trade directly into Scotland, Wales, Northern Ireland, and the North of England. Four major new trade and investment hubs will be established in Scotland, Wales, Northern Ireland and the North-East of England to boost trade and investment and level-up the…

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£20m SME Brexit Support Fund Open for Applications

Small and medium-sized enterprises (SMEs) can now apply for grants of up to £2,000 to help them adapt to new customs and tax rules when trading with the EU. The UK Government’s £20 million SME Brexit Support Fund enables traders to access practical support, including training for new customs, rules of origin…

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US suspends tariffs on UK goods in trade dispute

The UK welcomes US decision to suspend tariffs today on a range of goods, as we agree a joint de-escalation in the long-running Boeing-Airbus dispute. The UK and US have today agreed a new joint approach to the longstanding trade conflict over aerospace tariffs. The United States will temporarily suspend…

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