Read on Twitter
- remember how companies have been promised close to zero import duties by setting up in Boris Johnson's 8 new freeports?
- turns out there are clauses in post-Brexit free trade agreements (FTAs) with 23 countries which effectively negate those benefits https://www.ft.com/content/625d1913-9242-4d97-9d0b-9cd6925c4e0e?desktop=true&segmentId=d8d3e364-5197-20eb-17cf-2437841d178a#myft:notification:instant-email:content
- turns out there are clauses in post-Brexit free trade agreements (FTAs) with 23 countries which effectively negate those benefits https://www.ft.com/content/625d1913-9242-4d97-9d0b-9cd6925c4e0e?desktop=true&segmentId=d8d3e364-5197-20eb-17cf-2437841d178a#myft:notification:instant-email:content
shadow trade secretary @EmilyThornberry says the clauses could have been excised in trade talks:
“On the surface of it, this looks like a catastrophic blunder by a minister stuck in her silo....as a result, I fear that manufacturers....risk missing out on access to key markets."
“On the surface of it, this looks like a catastrophic blunder by a minister stuck in her silo....as a result, I fear that manufacturers....risk missing out on access to key markets."
these are the 23 trade deals which have clauses prohibiting “duty drawback”
our @FT front page tonight
