NORCROSS, Ga. — A trade agreement announced this week between the United States and the United Kingdom will roll back tariffs on cars and steel but leaves a 10% tax on all British imports.
That is putting a real squeeze on businesses that sell products from the U.K., including “Taste of Britain,” a store in Norcross.
“Luckily for us, before it all came into effect, we got pretty stocked up after Christmas. So, most of our prices right now, we are not going to raise. Anything new coming in, already has that 10% on it,” store owner Roxy Aguilar told Channel 2’s Tom Regan. “So, prices will go up. We will take some of the hit, but we can’t take all the hit, otherwise we’re not going to stay in business.”
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Aguliar, a native of London, England, is the third owner of “Taste of Britain,” which has been around for 35 years. The store sells food and merchandise from England, Ireland, Scotland and Wales.
Aguliar says the 10% tariff is especially punishing them because they already pay an import duty tax of 3 to 6%.
“So now we are talking 13 to 16% in tax, depending on the product,” said Aguliar.
She says the price of products she buys from the U.K. have also gone up.
“The other thing we haven’t spoken about is the weakening of the dollar. The pound is really strong now. So the exchange rate is way over what it was two months ago,” she said.
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The head of the British-American Business Council of Georgia is hopeful of more reductions on import tariffs.
“It is disappointing that we still have 10%, we would rather reduce that down to zero. Having a framework agreement like this is a step in the right direction. I’m hoping it’s the beginning of something bigger and more substantial as we go through the next few months and years,” said British-American Business Council of Georgia President Ed Haines.
Aguilar says she is grateful for her loyal customers, both in-store and online.
“We have been here for 35 years. And I have to say we have fantastic customers who come in week after week to support us. We’re very, very lucky,” said Aguilar.
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