End of US duty-free threshold to cause ‘Brexit-style’ shock | AI News Digest
The US has ended the $800 duty-free threshold for goods from the UK, leading to significant administrative costs for exporters. The British Chamber of Commerce warns that this change will have a 'Brexit-style' impact on trade, costing UK businesses hundreds of millions of pounds annually. Companies will now need customs declaration forms for each shipment, increasing operational expenses and potentially dampening customer demand. The Royal Mail has already adjusted its services in response to the new regulations. Experts predict that the financial repercussions could be substantial, particularly for retailers with large American customer bases.
