Supermarket prices in Britain could start increasing in coming months as food supplies get pummeled by a triple whammy of Brexit, Covid-19 and weather-struck harvests.
The U.K. is just 10 weeks from leaving the European Union’s single market, yet there’s still no trade deal between the two sides. If the status quo persists, import taxes averaging 18% will be slapped on meat, produce and beverages coming from the bloc starting Jan. 1. Both sides are aiming for zero tariffs, but there’s a chance they won’t succeed. Either way, logistical burdens will stack up as new checkpoint bureaucracies are created.
