The US today (3 October) announced the possibility of tariffs on imports from a range of countries in the EU worth up to £6.1bn from 18 October 2019. Scotch whisky exports to the US were worth £1bn last year.
A report commissioned by GMB Scotland and produced by the Fraser of Allander Institute in April, ‘Brexit and the Sectors of the Scottish Economy’, revealed Scotland exported £14.9bn worth of goods and services to the EU and around 144,000 jobs were linked to demand from the EU for Scottish exports.
“This is a troubling glimpse into the post-Brexit future and everyone with the Scottish economy’s best interests at heart should be concerned about our prospects following this development,” said Gary Smith, GMB Scotland secretary.
“Scotland and the rest of the UK are sitting ducks after 31 October. The collective strength we have in the EU trading bloc will be gone and there is simply no such thing as a ‘special relationship’ with the US – Trump will squeeze the UK economy for everything he can get.”
Brexit woes have continued to trouble the food manufacturing space – as well as the wider country – as industries battle with the uncertainty that the proposed move brings.
High street baker Greggs has revealed plans to stockpile key ingredients in anticipation of supply chain disruption due to Brexit.
Meanwhile, beef producers in Wales have also urged retailers to take action to limit supply chain issues, which could be impacted by reduced consumer spending as the uncertainty continues.