“Tariffs are an additional cost burden that often have to be absorbed by firms or picked up by consumers and manufacturers. Given the current uncertainty in global trade, these extended reductions in import duties on everyday consumer goods from orange juice to seafood are welcome and could help reduce the cost of living.
“Having greater certainty on prices for these everyday food and consumer products, as well as some items that will be used to make other UK goods, will also help keep inflation under control, sustain economic growth and improve living standards for the British people in this age of uncertainty in global trade.”
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13.04.2025
