Current Issues

Regular Industry Development Updates, Opinions and Talking Points relating to Manufacturing, the Supply Chain and Logistics.

End the tax attacks: ParcelCompare calls for sanity as US-EU trade war escalates

08-Mar-2018
David Jinks MILT (pictured)
ParcelCompare’s Head of Consumer Research, Parcelhero
End the tax attacks: ParcelCompare calls for sanity as US-EU trade war escalates
As the European Union threatens to impose new 25% tariffs on iconic US products such as Levi’s, Harley Davidsons and Bourbon in retaliation for new US steel tariffs, the leading US-UK courier ParcelCompare says it’s the EU’s duty not to impose new duties.

Following US President Donald Trump’s decision to call for a 25% tariff on steel imports into America last week, a trade row is threatening to escalate between the European Union (EU) and the US which could seriously harm UK businesses and cost consumers dear, says the US-UK shipping expert ParcelCompare.

Says ParcelCompare’s Head of Consumer Research, David Jinks MILT, ‘British manufacturers, retailers and importers could be badly damaged by an escalating tariff war with the US. President Trump announced a 25% tariff on imported steel last week, and then, when the EU protested, threatened to impose a new tax on EU (including UK) cars. This would be serious for UK manufacturers as the US takes 15.7% of all British car exports and currently only charges a 2% tariff on cars from the EU. Interestingly, the EU/UK imposes a 10% tariff on cars imported from the US.’

David adds: ‘Now the EU is failing to do its duty in preventing new duties, by threatening to impose a huge 25% tariff on popular American products such as Levi’s jeans, Harley Davidson motorbikes and Bourbon whiskey. That means British shoppers would pay £81 for a £65 pair of jeans and £25 for a £20 bourbon. Cecilia Malmström, EU Commissioner for Trade, says these products are all on a draft list of items which could be hit by new taxes.’

David asks: ‘What happens if the US decides on tit-for-tat taxes on the same kind of products from the EU? What would the impact be on British clothing companies such as Burberry, motorbikes such as Triumph and our world-renowned scotch whisky brands? These products are all hugely popular in the US and raising their price there could seriously damage famous UK brands.’

Says David: ‘A trade war with the US is something no side can win; but would hit the UK particularly hard if the same rules on EU goods were to be applied to UK goods imported into the US after Brexit; even as we look to make new deals with America.’

Concludes David: ‘ParcelCompare shippers are selling to the US more than ever before, thanks to the low value of the pound, and a generous $800 threshold under which no tariffs and taxes are imposed on EU/UK goods going into the US. America is also an easy place to do business thanks to a shared language and history. British businesses cannot afford to be dragged into a tit-for-tat row with the US, and all sides should be looking to calm the situation, rather than inflame it.’

With the Intelligent Enterprise, SAP Creates “A Completely Different Kind of Flexibility”
3 days ago
The supply chain is only as strong as its weakest link
4 days ago
‘A revolution happened in the way we buy services last week – and no one has noticed!’
5 days ago
Hot Topics at GS1 Connect? Labeling, Blockchain and More
5 days ago
Retailers must Embrace Change
6 days ago
Labeling Solutions That Bridge Islands of Data
1 week ago
My Journey to the World’s Most Important Gathering of Supply Chain Leaders
1 week ago
Workforce of the Future
2 weeks ago
Securing your supply chain against political uncertainty
2 weeks ago
On-demand warehousing could help retailers score big this summer
2 weeks ago
Half of organisations set for major procurement and supply chain AI investment within two years
2 weeks ago
Brexit, the weather & online shopping: How Britain’s favourite conversations are shaping supply chains
2 weeks ago
The Road to Regulatory Compliance for Your Supply Chain Labeling
2 weeks ago
The War on Packaging
3 weeks ago
Five data dramas that keep your CIO awake at night
4 weeks ago
As sales fall new report finds many department stores’ websites suffer from clunky integration and poor delive
1 month ago
Got Your Surfboards Ready to Master the Wave of Digitalization?
1 month ago
TrustArc to Offer IAPP Privacy Core® GDPR Training to Address Compliance Requirements
1 month ago
The Market has never been Stronger for Horizontal and Vertical API Platforms
1 month ago
Selecting the best Transport Management System - One of the most important logistics decisions you’ll make
1 month ago
“Digital Transformation” and Supply Chain Planning
1 month ago
Coolest Advice for Making Blockbuster IoT Devices?
1 month ago
The Fall of ‘Made in China’
1 month ago
How can artificial intelligence help the food industry?
1 month ago
Streamlining Operations With Waveless Picking
1 month ago
Creating a common standard for the fashion supply chain…
1 month ago
5 Steps to Improve Your Business’s Supply Chain
1 month ago
Procurement is joining the dots with technology to achieve greater strategic benefits
1 month ago
Don’t get red-carded shipping World Cup items into Russia
1 month ago
Trash talk: how waste management could become an engine for business growth
1 month ago
Could consumers drive a business tech revolution?
2 months ago
Jungheinrich Opinion: The Connected Engineer
2 months ago
Debunking the myths of the Hybrid Cloud
2 months ago
How to Future-Proof a Retail Business
2 months ago
How Enterprise Label Solutions Streamline Supply Chain Management
2 months ago
Ignorance 4.0? UK manufacturing and engineering competitiveness at risk from lack of knowledge
2 months ago
Untangling S&OP and S&OE
2 months ago
The ghosts of retail past, present and future
2 months ago
How to safeguard customer loyalty using digital platforms
2 months ago
The last mile starts with a single step
2 months ago
How citizen developers can speed up business app development
2 months ago
RFID – The missing link in customer insight
2 months ago
Turning blockchain into a real supply chain advantage
2 months ago
Achieving a Sustainability-Centric Retail Model
2 months ago
Gartner Says Global IT Spending to Grow 6.2 Per Cent in 2018
2 months ago
Monster opportunity: the Vampire Economy will take wings this year with late night deliveries
2 months ago
Falsified Medicines Directive: What are the practical considerations for wholesalers and Logistics Partners?
2 months ago
UK manufacturing sees solid growth in March
2 months ago
Elevating IT in financial services
2 months ago