Additional measures from 30 April for imported animal and plant products could hike costs by 10% in first year, says Allianz Trade New post-Brexit UK border controls coming into force later this month will cost British businesses £2bn and fuel higher inflation, according to a report warning that UK-EU trade will be damaged as a result. With less than a month before the introduction of new checks on animal and plant products from 30 April, the insurer Allianz Trade said the controls agreed under Boris Johnson’s Brexit deal could add 10% to import costs over the first year ..read more

Fees of up to £145 on EU animal and plant products through Dover and Folkestone begin on 30 April Business live – latest updates Trade groups have warned that consumers could see a rise in food prices after the UK government announced the introduction of post-Brexit charges on imports of EU food and plant products later this month. The government has published details of fees – known as the common user charge – which will apply to small imports of animal products and plants, such as sausages, cheese and yoghurt, entering the UK from the EU through the port of Dover and through Eurotunnel at ..read more

Output improves to 20-month high and job losses slow but global problems continue to restrict foreign orders A jump in domestic orders helped pull UK factories out of almost two years of contraction last month, according to a leading business survey. Output from the manufacturing sector improved to a 20-month high in March, marking the end of a period of shrinking activity that started in July 2022 ..read more

Prime minister Anthony Albanese says China’s duties on Australian bottled wine will come to an end from Friday Get our morning and afternoon news emails, free app or daily news podcast China has dropped tariffs on Australian wine, a long-awaited decision heralded by the Albanese government as validation of its “calm and consistent approach” with the superpower on a series of controversial trade disputes. In a statement on Thursday the prime minister, Anthony Albanese, foreign minister, Penny Wong, and trade minister, Don Farrell, said they had been informed that from Friday, China’s duties o ..read more

Big obstacles to rising living standards remain, from populism to protectionism, military conflict to the climate crisis, and China to Wall Street Central bankers are feeling smug. The fears of 12 to 18 months ago that the global economy was likely to crash as a result of rising interest rates have proved unfounded. Inflation has subsided without the expected sharp increase in unemployment. Although it hasn’t been reflected in Joe Biden’s opinion poll ratings, the US’s performance has been especially impressive, with growth remaining strong and not even the hint of recession. Other parts of th ..read more

Countries are placing a higher priority on resilience and security in the wake of the pandemic and as tensions grow In 2012, shortly before becoming China’s top leader, Xi Jinping visited the Port of Los Angeles to discuss boosting trade. What then looked like a locus of cooperation has now become another site for suspicion as Sino-American relations remain tense. Last month, the Biden administration announced $20bn of funding for port infrastructure, much of it to replace cargo cranes that have almost all been made by a state-owned Chinese firm. The US is concerned because the sophisticated p ..read more

One company selling German products has not had a single delivery of wurst since January German Deli in east London is known for its wide variety of traditional sausages, but the post-Brexit border changes brought in last month means stocks are running worryingly low. Offering 22 types of fresh sausage, from the classic Bavarian leberwurst to the Oktoberfest currywurst, the online retailer has become popular with expats and lovers of German cuisine since it launched in 2004 ..read more

Costs are escalating amid delays, according to British Chambers of Commerce research that shows UK retailers have also been hit More than half of UK retailers and exporters have been affected by the disruption to Red Sea trade from Houthi rebel attacks on cargo ships, research by a leading business lobby group suggests. The price of shipping a container from Asia to Europe has gone up by as much as 300% for some businesses, while logistical delays have added up to three to four weeks to delivery times, according to the survey by the British Chambers of Commerce (BCC ..read more

Authority weighs up legal action against government over new checks on imported meat taking place 22 miles inland The Port of Dover could become a target for criminals smuggling illegal and diseased meat into the country under new post-Brexit plans that will involve lorries from the continent being checked 22 miles inland, the port’s health authority has warned. The Dover Port Health Authority (DPHA) is now considering legal action against the government over its decision to end physical checks of imported meat at a post within the port. Instead, lorries will be directed to a new checking faci ..read more

Plummeting food prices feed steep annual drop amid renewed calls to stimulate economy and offset weakening demand Business live – latest updates China’s consumer prices fell at their fastest pace in 15 years in January, as the world’s second-largest economy sank deeper into deflation amid weakening demand. Data released on Thursday showed that China’s consumer price index tumbled last month, falling by 0.8% compared with a year earlier. It marks the fourth consecutive month of declines, as well as the sharpest drop since September 2009, when the global economy was still grappling with afters ..read more