There’s growing alarm across British industry about a possible dramatic change in the tariffs the UK levies on imports.
At the moment, all tariffs are set by the European Union. The International Trade Secretary, Liam Fox, has floated the idea that, when we leave, the vast majority of tariffs could simply be cut to zero. But a raft of industries say they could be hit hard by a flood of cheap imports – and they’re determined to force the government to rule out the idea.
It’s one more pressure on industry, on the day new figures show manufacturing optimism has hit an all-time low.