OK. Let's fact check this. Will tariffs impact on shop prices or not? Well on the the amount we trade now with the EU Supermarkets & their customers face £3.1 billion a year of tariffs on food & drink unless a free trade deal is reached between the UK and the European Union 1/8 https://twitter.com/lisaocarroll/status/1335523497662173184

UK grocery sector is one of the most competitive in the world and operates on tight margins to offer customers the best value possible. Remember up to Q4 2018 there was a record 5 yrs shop price deflation. That means no room to absorb costs 2/8

That means, if there is no deal the increase in tariffs will leave retailers with nowhere to go other than to raise the price of food.
Many non-food retailers will also see large tariff bills for EU products, meaning the total cost to retail & customers will be even higher 3/8

The EU is the source of 4/5 of UK food imports. In May, the UK published its new tariff schedule, which will apply from 1st January 2021 if a deal is not agreed. Under the schedule, 85% of foods imported from the EU will face tariffs of more than 5%. 4/8

The average tariff on food imported from the EU would be over 20%. This includes 48% on beef mince, 16% on cucumbers, 10% on lettuce, & 57% on cheddar cheese.

@the_brc has long been calling for zero-tariff zero-quota trade deal under its “Fair Deal for Consumers” campaign. 5/8

With coronavirus affecting the livelihoods of millions of people in the UK, many households can ill afford higher prices for their weekly food shop and it also means that costs for retailers have gone up so profit margins are down & even small costs make a difference 6/8

Furthermore, increases in physical checks, paperwork, and other non-tariff barriers will push up the cost for retailers even more. Tariffs is only one part of a 3d jigsaw that needs put together sooooooooo 7/8

In conclusion given the highly competitive nature of retail, the industry cannot absorb all these increased costs, meaning the public would face higher prices on food imports from the EU from 1st January 2021. 8/Ends