Posted 12th February

‘Never a better time’ for manufacturers to export

By KBBDaily on 12th February 2018 - 10:31am
export, manufacturer, retail, uk, eu, us, tariff, customs, single market, parcelhero, kbb, kitchen, bathroom, kbbdaily, ekbbusiness

Delivery firm ParcelHero has stated that the “low value of the pound, current freedom from tariffs at EU borders and a new generous US duty threshold” means that there has “never been a better time” for UK manufacturers to start exporting products overseas.

Speaking at the recent Department for International Trade’s Selling Online Conference in Coventry – which saw around 500 retailers and manufacturers attend – ParcelHero consumer research head David Jinks said that “all the stars are in alignment for exporting success”.

However, he warned that the “impact of Brexit may change the current highly favourable trading arrangements” with EU countries. “Exporters have never had it so good. It’s to be hoped that a soft Brexit will mirror EU single market and customs union arrangements as closely as possible.”

He also cautioned that US president Trump’s “lack of enthusiasm for low tariffs and free trade agreements” means that America’s new minimum duty threshold of $800 could be reversed to the former $200 level “if President Trump continues his more protectionist agenda”.

“‘By starting to export now, while all the stars are in alignment for successful exporting, retailers and manufacturers will be in a well-established place and able to meet any changes in EU or US duties,” said Jinks.

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