UK trade tariffs

  1. Video content

    Video caption: 'I wouldn't say we've started a lot of trade wars'

    US Trade Representative Robert Lighthizer told the BBC his view on President Trump's trade tariffs.

  2. Video content

    Video caption: 'There are tough compromises that have to be made'

    Robert Lighthizer told the BBC that a UK-US trade deal would be done soon despite outstanding issues.

  3. Analysis: Will tariffs mean higher prices for shoppers?

    Dharshini David

    Economics Correspondent

    Woman at supermarket

    An key impact of a Brexit no deal for consumers will be on prices. Over a quarter of our food comes from the EU, much of which will face extra import charges - or tariffs - typically of over 15%. Cars too will be hit by tariffs of 10%.

    Retailers are likely to pass some of that to us.

    The government is mindful of that. One thing it could do is to temporarily relax some tariffs - it would have to do the same for all countries with which the UK hasn’t got a deal.

    That had, until earlier this year, been the contingency plan. It would ease some of the pressure on consumers and retailers but would be unpopular with domestic producers e.g. farmers and manufacturers, whom tariffs are designed to protect from foreign competition

    Other factors will also impact the prices we pay for imports, from disruption at the border, to movements in the exchange rate. Some traders are warning that the value of the pound will fall in the event of a no-deal which would push up those prices.