Forex Market News Today
  • Home
  • News
  • LiveHourly
  • Markets
  • Stock
  • Business
  • Economy
  • World
  • Politics
  • Energy
  • exchange
  • companies
No Result
View All Result
Forex Market News Today
Home Economy

From fashion to farming: how Brexit is hitting Britain’s trade | Brexit

3 weeks ago
in Economy
3 min read
Live Foreign Currency Exchange Rates
Share on FacebookShare on Twitter


Fashion

“Since Brexit, sales to EU countries have rapidly declined,” says Rachael Attwood Hamard, the managing director of Britannical.

The luxury children’s clothing brand is just one member of the UK’s £35bn fashion industry, which is warning that gaps in the Brexit trade deal could be devastating for businesses from retail and manufacturing to modelling and design talent.

Complex VAT charges and handling fees now in place have led shoppers in Europe to stop ordering or to reject deliveries. Some brands and retailers have ceased selling across the Channel because it is no longer profitable.

Veteran designer Katharine Hamnett warns “British brands will die” without a “radical overhaul” of customs arrangements with the EU, including VAT rules.

Sandal-maker Álvaro says the European market is “now practically shut” because of the new tax regime, while it had waited more than seven weeks for a shipment of components to a supplier in Florence held up by paperwork.

Tamara Cincik, chief executive of Fashion Roundtable, which organised an open letter to the government last week – signed by more than 450 industry members – said: “Pre-pandemic [the UK fashion industry] was growing 11% year on year. But there is a real risk of it being utterly decimated from the gaps in the Brexit trade deal and UK government policy.”

Additional red tape and taxes plus restrictions on travel in Europe for work risk an exodus of talent.

UK manufacturers and designers say they have suffered delays and additional costs on shipping materials, samples or components to and from Europe.

Meanwhile, the UK’s model industry, worth about £250m, fears losing talent and bookings because of the paperwork now involved in travelling to work. John Horner, the boss of Models 1, said a quarter of his business comes from Europe, and that was now at risk, with many other agencies set to lose out even more.
Sarah Butler

Fish

The fishing industry is a tiny part of the UK economy, worth about 0.02% of the total, but its huge symbolic value meant it was a key factor in negotiating the Brexit trade deal.

In announcing the deal on Christmas Eve, Boris Johnson hailed it as a triumph for the sector. “For the first time since 1973, we will be an independent coastal state with full control of our waters,” he said.

But in the past few weeks, UK fishers have talked of betrayal as they came up against new customs arrangements. Sales to European markets – which accounted for nearly half the UK fishing fleet’s total catch in 2019 – stalled, and the price of many species plummeted, forcing boats to tie up in harbour or land their catches in EU ports.

Scottish fishers have landed their catches in Denmark in order to avoid bureaucracy, and many are selling less than 10% of their normal trade. Ian Perkes, a fish exporter based in Brixham in Devon, told NBC he had lost thousands of pounds in sales because of red tape.

Delays have been a critical issue for highly…



Go to the news source: From fashion to farming: how Brexit is hitting Britain’s trade | Brexit

Tags: BrexitBritainsFarmingfashionhittingTrade
Previous Post

South Korea’s all-purple Banwol Island

Next Post

Britons set for a post-Covid spending binge, says Bank chief | Economic growth (…

Related Posts

GDP forecasts are higher than expected, driving growth and rates – CNBC Televisi…
Economy

GDP forecasts are higher than expected, driving growth and rates – CNBC Televisi…

by Forex News
February 26, 2021
0

GDP forecasts are higher than expected, driving growth and rates CNBC Television Go to the news source: GDP...

Read more
Investors aren’t ‘stampeding’ out of gold because inflation is still a threat – …
Economy

Investors aren’t ‘stampeding’ out of gold because inflation is still a threat – …

by Forex News
February 26, 2021
0

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with...

Read more
US removes stumbling block to global deal on digital tax
Economy

US removes stumbling block to global deal on digital tax

by Forex News
February 26, 2021
0

US Treasury secretary Janet Yellen has told G20 finance ministers that Washington will drop a contentious part of its...

Read more
News Alert: India’s GDP number for financial year 2021 year out | GDP growth at …
Economy

News Alert: India’s GDP number for financial year 2021 year out | GDP growth at …

by Forex News
February 26, 2021
0

News Alert: India's GDP number for financial year 2021 year out | GDP growth at 0.4% | English News...

Read more
Boost to Household Income Primes U.S. Economy for Stronger Growth
Economy

Boost to Household Income Primes U.S. Economy for Stronger Growth

by Forex News
February 26, 2021
0

U.S. household income jumped 10% in January as the government delivered stimulus payments to households and consumer spending rose...

Read more
Analyst: Foreign funds flowing to economies presenting faster recoveries as PH l…
Economy

Analyst: Foreign funds flowing to economies presenting faster recoveries as PH l…

by Forex News
February 26, 2021
0

Analyst: Foreign funds flowing to economies presenting faster recoveries as PH lags in vaccination ANC 24/7 Go to...

Read more
China has a good chance of doubling GDP by 2035, says Bank of America
Economy

China has a good chance of doubling GDP by 2035, says Bank of America

by Forex News
February 26, 2021
0

China was one of the few economies globally that grew in 2020 despite the challenges posed by the Covid-19...

Read more
Boeing will pay $6.6 million to FAA | Aviation | Business and Economy | Latest W…
Economy

Boeing will pay $6.6 million to FAA | Aviation | Business and Economy | Latest W…

by Forex News
February 26, 2021
0

Boeing will pay $6.6 million to FAA | Aviation | Business and Economy | Latest World English News WIONWatchdog...

Read more
Brexit: Welsh exports to Irish Republic ‘hindered by wrong ink’ – BBC News
Economy

Brexit: Welsh exports to Irish Republic ‘hindered by wrong ink’ – BBC News

by Forex News
February 26, 2021
0

Brexit: Welsh exports to Irish Republic 'hindered by wrong ink' BBC News Go to the news source: Brexit:...

Read more
Free exchange – The prices of sports cards and odd collectibles are booming, too…
Economy

Free exchange – The prices of sports cards and odd collectibles are booming, too…

by Forex News
February 26, 2021
0

Feb 27th 2021THE S&P 500 may be setting new highs, but to really take the measure of market exuberance...

Read more
Next Post
Live Foreign Currency Exchange Rates

Britons set for a post-Covid spending binge, says Bank chief | Economic growth (...

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Latest Forex News

Warren Buffett and Elon Musk are shaking up markets this year. Here’s a look at …

Warren Buffett and Elon Musk are shaking up markets this year. Here’s a look at …

6 days ago
Richard Branson’s Virgin Orbit rocket reaches space

Richard Branson’s Virgin Orbit rocket reaches space

1 month ago
Clueless About 2020, Wall Street Forecasters Are at It Again for 2021

Clueless About 2020, Wall Street Forecasters Are at It Again for 2021

2 months ago
IPO floodgates open as Airbnb, DoorDash prep stock-market debuts

IPO floodgates open as Airbnb, DoorDash prep stock-market debuts

3 months ago

Today Market News

GDP forecasts are higher than expected, driving growth and rates – CNBC Televisi…
Economy

GDP forecasts are higher than expected, driving growth and rates – CNBC Televisi…

February 26, 2021
Investors aren’t ‘stampeding’ out of gold because inflation is still a threat – …
Economy

Investors aren’t ‘stampeding’ out of gold because inflation is still a threat – …

February 26, 2021
Nigeria kidnappings: Gunmen abduct schoolgirls in Zamfara State, government offi…
World

Nigeria kidnappings: Gunmen abduct schoolgirls in Zamfara State, government offi…

February 26, 2021
US removes stumbling block to global deal on digital tax
Economy

US removes stumbling block to global deal on digital tax

February 26, 2021
Live updates: Biden to survey winter storm recovery in Texas; House poised to pa…
Politics

Live updates: Biden to survey winter storm recovery in Texas; House poised to pa…

February 26, 2021
Stock Market Rally Under Pressure As Tesla, Nvidia, Square, Growth Stocks Sell O…
Stock

Stock Market Rally Under Pressure As Tesla, Nvidia, Square, Growth Stocks Sell O…

February 26, 2021
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 Siteofforex.com

No Result
View All Result
  • Home
  • News
  • Live
  • Markets
  • Stock
  • Business
  • Economy
  • World
  • Politics
  • Energy
  • exchange
  • companies

© 2020 Siteofforex.com

wpDiscuz