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Industry body warns of higher prices if UK cannot strike trade deal with EU

Industry body warns of higher prices if UK cannot strike trade deal with EU

Business
Consumers in the UK could face higher prices next year unless a tariff-free trade deal with the EU can be reached, the British Retail Consortium has warned.The UK and EU remain locked in talks on a free trade deal but there are concerns an agreement will not be struck before the UK leaves its transition period at the end of the year. The latest round of negotiations broke up early last week after both sides admitted they continue to disagree on a number of issues.Around 80% of food imports come from the EU and the bloc plays a big role in supply chains for other items such as clothing and homeware. ...
Canadian PM Trudeau will stay home for USMCA trade deal event in DC

Canadian PM Trudeau will stay home for USMCA trade deal event in DC

World
July 6 (UPI) -- Canadian Prime Minster Justin Trudeau will not travel to Washington, D.C., to celebrate the ratification of a new trade agreement between Canada, the United States and Mexico Wednesday, the prime minister's office said Monday. U.S. President Donald Trump will host Mexican President Andrés López Obrador to celebrate the USMCA trade agreement, which replaced the 1994 NAFTA agreement between the three North American nations. Advertisement Trudeau had a conflict in his schedule, a spokeswoman said. "While there were recent discussions about the possible participation of Canada, the prime minister will be in Ottawa this week for scheduled cabinet meetings and the long-planned sitting of Parliament," Chantal Gagnon from the Prime Minister's Office said in a statement. Under Can
Farmers call for green trade policy to help tackle climate change

Farmers call for green trade policy to help tackle climate change

Technology
The government should be pursuing a green trade policy in the wake of COVID-19 and Brexit, if it is serious about tackling climate change, according to the National Farmers' Union.The union's deputy president Stuart Roberts told Sky News that the green recovery being called for must include trade deals with countries pursuing similar net zero goals. Farmers have pledged to be net zero by 2040 and the UK has said it wants the country as a whole to reach the same target by 2050. Image: Mr Roberts, deputy president of the NFU, at his Hertfordshire farm "The biggest thing for me is what trade deals we end up doing... we still don't know," said Mr Roberts, who is a cattle, sheep and cereal farmer."We have some of the highest standards and ...
Lloyd’s of London and Greene King apologise for slave trade links

Lloyd’s of London and Greene King apologise for slave trade links

Business
Two of the UK's largest companies have apologised and pledged to make big donations to race equality charities over historic links to the slave trade.Greene King, the pubs, restaurant and hotels operator, and insurance market Lloyd's of London announced the moves after a University College London (UCL) database, seen by the Daily Telegraph, revealed financial gains for founders under a UK government compensation scheme when slavery was abolished in 1833. The paper reported that Benjamin Greene received £500,000 in today's money to surrender plantations in the Caribbean while Simon Fraser - linked to Lloyd's - was paid almost £400,000 to give up an estate in Dominica.The revelations were made as anti-racism campaigns - prompted by the death of George Floyd in the US - gather momentum global
South Korea to reopen WTO complaint over Japan trade curbs

South Korea to reopen WTO complaint over Japan trade curbs

Technology
South Korea says it will reopen a complaint to the World Trade Organization over Japan’s tightened controls on technology exports to its companiesBy KIM TONG-HYUNG Associated PressJune 2, 2020, 7:27 AM3 min read3 min readShare to FacebookShare to TwitterEmail this articleSEOUL, South Korea -- Reigniting a bitter row between key U.S. allies, South Korea on Tuesday said it will reopen a complaint filed with the World Trade Organization over Japan’s tightened controls on technology exports to its companies, blaming Tokyo for an alleged lack of commitment in resolving mutual grievances. South Korea had halted its WTO action in November when it decided to keep a military intelligence-sharing agreement with Japan it previously threatened to end over conflicts stemming from wartime history and t